The city council’s finance and performance committee is meeting today to decide whether to loan up to $1.5 million to the Canterbury Cricket Trust.
An interest rate on the loan has not yet been determined.
City council staff have recommended the loan is paid back within four years.
The trust needs to raise an expected $4.25 million for six permanent 49m lights and had hoped to do it through donations and fundraising.
The lights are needed for the 2021 Cricket Women’s World Cup tournament.
Trust chairman Lee Robinson said just over $1.3 million has so far been raised.
“I have not made my mind up yet on this one but I am wondering, why should the ratepayer be acting as a bank?” he said.
The city has been awarded hosting rights for eight Women’s World Cup matches, including the final, if it has permanent lights to meet international broadcasting standards.
Mr Robinson said the trust had also applied for a $500,000 loan from the Rata Foundation, which was still being considered and also various grants from other charitable institutions.
Deputy mayor and chairman of the finance and performance committee Andrew Turner said it was vital there was no cost or risk to ratepayers in granting the loan.
Councillor Sam MacDonald also said it was key to ensure there was “no risk to the ratepayer” in granting the loan.
That was echoed by fellow city councillor James Gough.
Said Cr Gough: “My view is that the ratepayer would have to be appropriately protected.”
Hands Off Hagley spokesman Martin Meehan, a group which fiercely opposed the installation of the lights, thought there were better things the city council could be loaning money towards and suggested the trust go to a bank.
Mr Robinson thought the lights would provide Christchurch with a “fantastic opportunity to showcase the city”.
