Park loan hol­i­day ap­proved

Auckland City Harbour News - - News -

Eden Park bosses will skip prin­ci­pal loan re­pay­ments to the Auck­land City Coun­cil dur­ing the sta­dium’s up­grade.

A re­quest for a 30month prin­ci­pal re­pay­ment hol­i­day was ap­proved by the coun­cil’s fi­nance and strat­egy com­mit­tee on Wed­nes­day last week.

The move will help the Eden Park Trust Board cope with a drop in rev­enue be­cause of the clo­sure of the south and west stands. The board will con­tinue to pay in­ter­est at a com­mer­cial rate on the loans to­talling $6.8 mil­lion.

Coun­cil fi­nance gen­eral man­ager An­drew McKen­zie told the meet­ing there would be no fi­nan­cial im­pact on the coun­cil.

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