Submissions fly in

From City Scene, published on 26 August, 2007

Auckland City Council's consultation on the future of its stake in Auckland Airport continues next week. About 30 people will present oral submissions to the council on Monday following the receipt of more than 600 written submissions. Of the written submissions, about 90 per cent are opposed to both selling the shares and decreasing the council's shareholding in the airport.

There is, however, some interest in restructuring the council's shareholding and about half of the submitters support increasing the council's stake.

Finance and Corporate Business Committee chairperson, Councillor Vern Walsh, says the council will carefully consider all the submissions before making a decision. "We recognise the public's concerns about the future ownership of the airport and we want to ensure any decision is in the best long-term interests of residents and ratepayers."

Mr Walsh says the council is considering potential approaches that might improve the return on its investment. "This will have a direct impact on the level of rates our residents are paying." On 3 September, the council will decide whether to amend its long-term plan, which will enable the council to restructure or transfer ownership of its 12.75 per cent shareholding in the airport.