GREEN LIGHT FOR PATH

Auckland’s bicycle SkyPath project has been given the goahead to be delivered in a publicprivate partnership. The deal with H.R.L Morrison and Co’s Public Infrastructure Partnership Fund (PIP Fund) is the first of its kind for significant infrastructure in Auckland by the council. Construction, operation and maintenance of SkyPath will be financed and delivered by the PIP Fund for the contract period and there would be an admission charge for users. The council will provide a limited underwrite. If minimum revenue streams from fares and sponsorship are not met, the council will need to topup funds to meet a pre-agreed amount. If profits reach a certain level, the council and Auckland Harbour Bridge Pathway Trust will receive a share.