Local councillors and others are balking at the idea of using NZ$16.8m of taxpayer money to fund a new superyacht facility in Auckland.
Local sources say that politicians are divided over providing funds to the NZ$45m facility proposed for Wynyard Quarter. A further NZ$90m of investment by marine firms is expected to follow once the haul-out and production facility is up and running.
Waterfront Auckland, which is owned by the council, is behind the proposed facility. John Dalzell, the organization’s chief executive, said it would create significant jobs and growth for the city.
He told the New Zealand Herald that the cost of the lift-out facility would not generate a sufficient return for private industry to fund it alone. Dalzell said the refit facility would be worth NZ$161m over 25 years to the Auckland economy…..(Superyacht Business, 3 May 2012)