Property

Watercare will find $122m to help keep council afloat

Brent Melville
Tue, 15 Sep 2020

Brent Melville
Tue, 15 Sep 2020
Water infrastructure charges levied into Auckland's hot property development market could provide enough liquidity to keep council from drowning in debt, says outgoing Watercare chief executive Raveen Jaduram.The anticipated higher returns, which will come in the form of infrastructural growth charges, will form a large part of 'debt impact mitigation' which Watercare estimates could come in at $122 million. That's almost half the expected $224 million in capital spending and $15 million in operational costs projected as part of...

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