Auckland's mayor says the infrastructure work being done on the waterfront to host America's Cup has been completed.
Auckland Mayor Phil Goff says he hopes Covid-19 restrictions will be lifted by the time the America's Cup is underway. Photo: RNZ / Dan Cook
The council previously outlined it would fork out about $100m to host the event by upgrading the city's waterfront.
Auckland Mayor Phil Goff told Morning Report that the infrastructure work had already been completed and under budget.
"These are additions to our infrastructure such as the strengthening of Wynyard Point Wharf which was in bad condition and cleaning up the sewage outlets into harbours etc., those will help the America's Cup but they are also long-term assets to the city.
"We have no problem in saying that's a good investment of ratepayer money, because that will help generations and the new facilities there will provide for a whole series of water-based sporting activities."
He said the closed borders due to Covid-19 would mean the expected revenue from the flood of tourists could no longer be achieved. But he is hopeful the domestic restrictions would ease by the time the event happens.
"We're not sure yet even if we'll get the superyachts, which were likely to spend tens and tens of millions of dollars with our marine industry and refits and so on. That's the cost of Covid-19 and we can't do anything about that.
"We have pride with being a small country that can beat some of the corporate entities in the world."
However, if restrictions were to remain then physical spacing and crowd restrictions had to be put in place, he said.
"That's an ongoing problem ... we'll just have to deal with it at the time."
Goff welcomes audit's findings into allegations
Meanwhile, an investigation commissioned by the Ministry of Business, Innovation and Employment found there was no evidence of fraud committed by Team New Zealand and nor by the regatta's events arm - America's Cup Event Limited.
Team boss Grant Dalton has long rejected allegations of impropriety and misuse of public money.
Goff told Morning Report that while the council had no direct financial input into the $40m fund, he welcomed the finding of the investigation.
"We now can focus on making sure, within the limits of our border closures, that this is a really successful event that can showcase Auckland and New Zealand to the world and showcase the skills of our great team ... and showcase the technology skills that put us right at the top of boat building and boat technology."
However, the audit noted that a contractual disagreement was outstanding, regarding whether the AC36 Event and Class Design Costs is a cost that should be borne by the event, and therefore by Crown investment.
Goff said he expected that that issue would be addressed by the parties involved in mediation.
Team NZ says it will take high court action against the people who brought the allegations against them.
MBIE will now release the final $11 million funding it promised to regatta organisers. It withheld that money while the audit was conducted.