By Melissa Davies
Eden Park planners are looking to Auckland ratepayers to guarantee a loan for video screens and turnstiles, after it was revealed today nobody put the money aside to pay for them.
The Eden Park Trust Board was meant to pay for the range of new equipment but income is down, so now it cannot afford it.
The budget shortfall has consequently ballooned from $20 million to $40 million.
Eden Park’s income has been hammered because two-thirds of it is under development.
“There is about $14 or $15 million of expenditure there for video screens and turnstiles,” says Eden Park Redevelopment Chairman John Waller.
He describes the issue as “just part of normal operations for a park going forward.”
It was known there would be a shortfall from the outset, but today’s revelation almost doubles the gap.
The build is estimated to cost $240 million, of which $190 million is coming from the Government. The New Zealand Rugby Union and Auckland Regional Council are each putting in $10 million, and the ASB Trust is contributing $6.5 million.
Initially that left a $23.5 million shortfall – but the new bill inflates it to $38.5 million.
The Government refuses to take more from the taxpayers’ pockets, so the redevelopment board is looking to Auckland City ratepayers to guarantee a loan, which would be paid back once it can get commercial sponsorship.
“I’m going to go to the mayoral forum to seek advice, consultation and support for a solution to help this funding gap be realised,” says Auckland City Mayor John Banks.
Manukau Mayor Len Brown is urging Mr Banks to get on with it and say yes.
“Cut straight through the log-jam,” he says, adding that there is not need for a “business study or analysis, or anything like that”.
The board is also looking at where it can cut discretionary spending.
Mr Waller says worst-case scenario would be to delay spending on landscaping and other improvements until after the World Cup – but he admits that can’t be cut from the budget altogether, because it would put them in breach of resource consent.
Sponsors will be sought over the next six months, with naming rights for Eden Park being considered as an option.
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