Larry Williams Drive

Detailed reports on the future of Christchurch's stalled stadium have been made public -including the successful negotiation of fixed-price contract for its construction.And it has emerged that if the project is stopped, $40 million in "sunk costs" will be lost entirely and the budget will rise further if there is any pause on the build.The Christchurch City Council today confirmed the total budget for the project will sit at $683 million.Rates in the city will need to increase by 1.24 per cent to cover the cost of what the CCC will need to borrow to fund the project.In 2010 and 2011 the Christchurch quakes irreparably damaged AMI Stadium - formerly Lancaster Park.The plan to create a covered multi-use arena was put forward by a Government panel in 2012.That plan detailed how both local and central government would foot the bill.The projected cost was $470 million.But that rose to $533m, and in recent months the Christchurch City Council revealed the proposed design for the stadium, Te Kaha, had blown its bud