St.Petersburg Administration Approved New Arrangement for Financing Construction Project of Community and Business Complex Okhta Centre17.07.2007The Government of St.Petersburg adopted a resolution on introduction of changes to a target program “Construction of Administrative and Business Centre in St.Petersburg” at its meeting held on July 17.
According to the chairman of the city’s financial committee Alexandr Nikonov the document was prepared with the view of changing the financing structure for implementation of the target program, the state ordering party and the name of the main contractor for the performance of works from CJSC Gazprom Neft Invest to CJSC Community and Business Center “Okhta”.
The document has been approved following the agreement of intent among St.Petersburg, JSC Gazprom and JSC Gazprom Neft signed on May 27, 2007 whereby the procedures and basic principles of the parties’ relationships are established for the duration of the project implementation.
According to the revised law pertaining to the target program the funds for financing main activities will be allocated by the principal founding member of CJSC Community and Business Center “Okhta” - JSC Gazprom Neft – to the tune of 30.6 billion Rubles and from the budget of St.Petersburg to the tune of 29.4 billion Rubles.
In this connection the above budgetary funds will comprise 1.8803 billion Rubles in the form of subventions and 27.5197 billion Rubles allocated in the form of budget investments into the authorized capital of CJSC Community and Business Center “Okhta”.
The title to the new property erected in the framework of the project realization will be vested in CJSC Community and Business Center “Okhta” where the city will own 49% of the company’s authorized capital.
Following introduction of the changes the St.Petersburg budgetary expenditure for implementation of the target program will be cut by 30.6 billion Rubles.
As the governor of St.Petersburg Valentina Matvienko emphasized no one questions the expediency of erecting a modern complex in the territory of Okhta.
”The point of discussion now is whether erection of a high profile high-rise building within the framework of this major project is relevant. The discussion is still going on and all principal features and parameters of the center will be approved later. At the moment it is important to bear in mind that this territory is a former industrial estate that needs to be upgraded whereas the architectural accentuated highlight is a matter for subsequent decisions”, said V.Matvienko.
”It is necessary that the citizens are made aware of which decisions are taken and why. The Okhta area now lacks powerful social infrastructure”, V.Matvienko pointed out and added that JSC Gazprom had accommodated the city request and agreed to increase the number of public-oriented facilities in the new complex.
