The statement outlines the strategic direction for Dunedin City Holdings Ltd (DCHL) for the next financial year, and the changes deal with its role as a corporate citizen, and its communication with the council.
The company was rocked last year when the council dumped its board of directors, and replaced it with new appointments.
That issue arose after an independent report from Warren Larsen revealed a multimillion-dollar annual shortfall in the dividend the company was to have provided for the council, in part to pay off debt for Forsyth Barr Stadium.
At a council finance, strategy and development committee meeting last week, committee chairman Cr Syd Brown said, after "a lot of email traffic", an amended statement of intent had been circulated the night before the meeting, and he was happy for that to be debated.
Cr Hudson questioned whether it should have been available three days before the meeting, as the committee agenda was required to be.
"I have not seen this document."
He was informed by governance manager Sandy Graham three days was not required for such a document.
Cr Brown said he had been approached by Cr Jinty MacTavish, who wanted 10 amendments to the statement the company had produced.
Fellow Greater Dunedin councillor Richard Thomson and Mr Cull had also offered their advice.
Cr Brown said there had been discussions with new director Denham Shale, who had seen the amendments and was comfortable with them.
Legally, the council could not require the company to accept the changes, as it was a statement of the board, not the council.
The amended document would be sent back to the board for its consideration.
The changes included a requirement the company should act as "an environmentally responsible corporate citizen".
It was also to notify the council when there may be a conflict between its operations and the council's "community outcomes", which state the city's goals for economic, environmental, health and social wellbeing.
"The company will be mindful that the shareholder [the council] is the custodian of the community's interest and accepts that this may create a greater need for consultation with the shareholder than might be required in a normal commercial situation."
Cr MacTavish said some of the changes removed ambiguity, while others "move the document into the 21st century".
The commercial and political environment had changed, she said, and the changes meant the statement was more closely aligned with council policies.
A motion to approve the statement of intent was carried unanimously.