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Cape Town - Processes are underway to improve the financial viability of the Cape Town stadium, a city official said on Thursday.
Tourism, events and marketing mayoral committee member Grant Pascoe said the first step was to attain a new environmental authorisation in terms of the National Environmental Management Act.
The second was to apply for a new zoning provision in terms of the Land Use Planning Ordinance.
Pascoe said these steps would optimise development and marketability opportunities, enhance income streams, and secure the economic and environmental sustainability of the stadium in future.
“The two changes are needed to give substance to the revenue options suggested by a business analysis undertaken by the city.”
These changes, as well as a city-wide public participation process, were expected to be concluded in the next 12 to 18 months.
“Residents were also assured that the commercialisation would not include the Green Point Park and that a large section of the Green Point Common would remain public open space.”
In a poll earlier this year, 65 percent of respondents supported a mixed-management model and commercial activity for the stadium precinct.
Around 20 percent said it would be better to demolish the stadium.
“While some residents supported the view that the stadium be demolished at the public meeting last night 1/8Wednesday 3/8, others praised the city for developing the Green Point Common, which saw property values improve and the area around the stadium becoming more pleasant,” Pascoe said.
“The city has noted the concerns raised at the public meeting, but would like to reiterate that demolition is not an option.”