Auckland Council has agreed to provide a further $14.5 million to complete the infrastructure needed for the holding of the America’s Cup defence in 2021.
The decision by the Governing Body to provide additional funding follows the government’s decision to provide further investment of $22.5 million. The additional funding is the result of more accurate and detailed construction costs from final design work and the granting of resource consents.
Mayor Phil Goff said, “We’ve cleared the way to deliver the best America’s Cup ever.
“Government, the council and ETNZ have worked hard to pare back costs as much as possible without compromising the America’s Cup event.
“I welcome the commitment of Auckland’s councillors to ensuring Auckland is well placed to deliver for New Zealand an America’s Cup of which we can all be proud.
“With eight new notices of challenges on top of the three confirmed original challenges, we’re looking at a likely full occupation of the team bases and the prospect of exciting and competitive racing in 2021.
“The America’s Cup will be great for Auckland and New Zealand, bringing excitement to our country with thousands more jobs and an estimated economic value of $600 million to $1 billion for New Zealand.
“Beyond the cup we have the legacy of the infrastructure work that will help bring forward the delivery of more open space, parks, commercial developments and improved facilities for marine sports,” Phil Goff said.