Council agree to finance case on Skypath
From Auckland Council:
SkyPath gets unanimous support
Auckland’s SkyPath project has been given the go-ahead to be delivered through a public private partnership, after a unanimous decision at today’s Finance and Performance Committee.
Auckland Council’s Governing Body will formalise the decision at their next meeting on Thursday 28 July.
Mayor Len Brown says SkyPath is a uniting project that brings Auckland together.
“In a short space of time we have made Auckland a cycle city – and this is the vital link for walkers and cyclists.”
The partnership with H.R.L Morrison and Co’s Public Infrastructure Partnership Fund (the PIP Fund) is set to be the first of its kind for significant infrastructure in Auckland by the council.
The public private partnership means construction, operation and maintenance of SkyPath would be financed and delivered by the PIP Fund for the contract period and there would be an admission charge for users of SkyPath.
The council would then provide a limited underwrite of the revenue. This means if minimum revenue streams from fares and sponsorship etc are not met, council will need to top-up funds to meet a pre-agreed amount. In turn, if profits reach a certain level, council and the Auckland Harbour Bridge Pathway Trust will receive a share in these.
Auckland Council would also receive ownership rights and obligations at the end of the contract period.
The resource consent granted by the Independent Commissioners has been appealed to the Environment Court. These appeals will need to be resolved prior to the project starting.
Appropriate provision for the project will need to be made in the Annual Plan 2017/18 and the Long-term Plan 2018/28.
The vote was unanimous at the Committee today with even Councillor George Wood voting in favour after strident opposition earlier.