Transition agency cost put at $94m

The transition agency managing Auckland's change to a new local government structure will cost about $94 million, Local Government Minister Rodney Hide says.

"The royal commission had projected the transition to take four years, but the transition to one mayor and one council for Auckland will now be completed in well under half that time," Mr Hide said.

The transition funding is a loan from the Government to the Auckland Transition Agency, and will be repaid by the new council by November 1 next year.

The council may decide to refinance the loan so as to spread the impact.

- NZPA