Getacross Update: Good News Folks!‏

Postby Melissa_Theuriau on Sat 24/Nov/12 6:41pm

Ernst and Young's review of SkyPath's business case shows an initial revenue stream of $3.25 to $5.56 million pa. This is well within the revenue range necessary for SkyPath to be financially feasible and we hope to agree on a final funding arrangement with Council and NZTA soon.
In summary… Morrison & Co’s PIP Fund will cover the construction cost, the operating and maintenance cost, and the most risky 25% of the business case revenue. The less risky 75% of revenue would be underpinned by Council, NZTA and others, who in return will share in the revenue upside and will own SkyPath after the tolling period.
And in more good news, NZTA has adopted SkyPath as its preferred walking and cycling option for the next harbour crossing. The advantage of SkyPath is that it offers superior facilities, is 100% compatible with the next harbour crossing (regardless of whether it is a bridge or a tunnel) and can be delivered now!
We’re excited about the benefits of SkyPath, it will unlock Auckland’s potential for walking and cycling, new tourism opportunities and waterfront recreation.
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