The Canterbury Earthquake Recovery Authority will wind up on Friday, and Regenerate Christchurch is taking its place, as new contractors are announced for the metro sports facility.
Treasury has given the rebuild the worst possible rating for the central city rebuild, but this morning John Key expressed confidence in Gerry Brownlee who's been the Minister in charge.
"I have total confidence in Gerry, and I actually think he's done a really good job down there," he told Paul Henry.
"I don't think Treasury are right -- I think if you go down to Christchurch, you see an enormous amount of positive things. But you've got to remember that ultimately, there are some things that take a bit of time. This is not your perfect situation -- you've had 13,000 aftershocks."
He said the Government wants to do its job, "spend the money that we need to spend, do all things that we need to do," and pass back control to Christchurch.
Christchurch Deputy Mayor Vicki Buck says: "It's [the recovery] felt like a long time, I think moving on to more local control will be welcome down here.
"They could have done it easier. People have worked incredibly hard to try and make things happen, they obviously haven't succeeded, so the Treasury is right on that."
Ms Buck says that the quality of the buildings is paramount, however.
"If they have to go back and do it again, then they have to. They shouldn't have allowed any of it to not be right the first time."
Mr Brownlee dismissed the report last week, saying it was out of date and key projects are now underway.
He announced today the appointment of two contractors for the metro sports facility – one of the city's anchor projects - to "keep some competition" in the process.
It will be a joint venture between Australian company CPB and Christchurch-based Southbase, and Leighs Cockram Joint Venture Ltd.
The contractors will provide advice and expertise to plan the design and build of the facility. Come August, just one contractor will be chosen to continue the work.
"It will be the second largest sport and recreation facility of its type in Australasia and we want to make absolutely sure what we’re building will meet the needs of the community, now and in the future," Mr Brownlee says.
He says it's another important milestone in the development of what will be a multi-generational asset for the city.