The SkyPath proposal was initiated and developed by the SkyPath Trust to provide a privately financed walking and cycling facility on the Auckland Harbour Bridge, funded through an admission fee. Private funding is required for the project due to lack of available funding from central and local government agencies. The NZ Transport Agency advises they are unable to provide construction funding for the facility due to the budget limitations for walking and cycling imposed by the Government Policy Statement. NZTA may be able to assist with the funding of the completion of strengthening work to the AHB and the SeaPath link to Akoranga.
The intention is that Public Infrastructure Partnership Fund II (PIP) will provide the private investment for SkyPath, with the PIP Fund and Council participating in a PPP to construct and operate the SkyPath, at the end of the agreed term SkyPath will pass to Council ownership. A special purpose vehicle (“SPV”) would be established by the PIP Fund to design and build SkyPath, initially own the SkyPath structure and associated rights, operate and maintain SkyPath; receiving revenues from admission fares and meet all costs associated with SkyPath over that term (subject to the underwrite and sharing of any “up-side” arrangements).
The admission fare paid by SkyPath users will cover the costs and maintenance of SkyPath.
In return for the partial underwrite, there are many potential benefits for Auckland Council and Aucklanders, including:
- Aucklanders get a critical piece of infrastructure – a walking and cycling link across the AHB – that has been a missing link for more than 50 years
- A share of the of up-side or “gain share” once the post-tax return of the project has reached a pre-agreed level.
- At the conclusion of the PPP, ownership of SkyPath would pass to Auckland Council.
An independent study by Angus & Associates for Auckland Council has provided the estimates in the table below.
User Type Year 1 Year 20Tourist 112,811 222,517 Recreation 534,227 1,438,632 Commuter 134,346 475,364 Total Users 781,384 2,136,513
The Trust is a not-for-profit community organisation whose objectives are to construct SkyPath then use any future income to support other walking and cycling projects. The Trust is incorporated under the Charitable Trusts Act 1957, incorporation number 2477887.