"This is such a positive step for Christchurch because it lays the foundation for us to work hand-in-hand with the Government in setting the direction for the regeneration of our city.
"As the Prime Minister stated today, working together is the key to progress. We know the best results for Christchurch eventuate when we work together.
"We must make considered decisions and execute them well.
"I particularly welcome the Government's proposal that the necessary step-change and level of ambition for the Central City would be best achieved by creating a new regeneration entity which would be jointly designed and developed by Christchurch City Council and the Government.
"Earthquake Recovery Minister Gerry Brownlee and I will be working together with the Council and officials on how the new entity would operate, including establishing its objectives, functions, funding and powers, and the appointment of a board.
"This will include looking at the entity's relationship to and possible integration with Development Christchurch, the Council's new commercial development entity.
"As a Council we will be formally submitting on the Draft Transition Recovery Plan and legislation, but we will also be working directly with the Crown to arrive at a legislative framework that will best serve our aligned objectives and the needs of the whole city."
The Mayor is urging the people of Christchurch to have their say in the future direction of our city.