Building new commercial or residential spaces in Auckland could help pay for City Rail Link project
Building new commercial or residential spaces in Auckland could help pay for City Rail Link project
3 May 2019
The bill has blown out by more than one billion dollars.
The Auckland City Council agreed yesterday, to cough up half of that.
Mayor Phil Goff says officials have calculated that building into airspace above four city carparks could bring in 50-million of the amount.
He says the carpark buildings are well below the CBD's maximum height - therefore they present development opportunities with private sector partners.
Other funding ideas being explored include leasing the buildings to private businesses, and reducing interest rates and renegotiating loans.
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