Three main options have been put forward as bases for the America's Cup on the Auckland waterfront at cost of between $140 million and $190 million.
Auckland councillors were presented with five options today, but two options to use Captain Cook Wharf were ruled out because the car storage business on the wharf cannot be relocated within the timeframe to build the facilities.
The three main options are extending Halsey Wharf, costing $190 million, a smaller extension of Halsey Wharf and an extension to Westhaven Marina, and dispersing the syndicate bases between Halsey Wharf, Hobson Wharf and Wynyard Point.
The councillors are required to make a decision on November 23 to allow for resource consent to be lodged in January, work to start mid next year and completed in the second half of 2019.
Councillors were told the 2020 America's Cup regatta would add between $550 million and $1 billion in direct benefit to the New Zealand economy.
Panuku Development Auckland design and place director Rod Marler said technical experts have undertaken a robust evaluation of a long list of possible locations in Auckland, including Hobsonville, Gulf Harbour, Okahu Bay, Devonport and Bayswater.
"The locations have been evaluated on three criteria - ability to deliver in the timeframe, ability to meet the requirements of the teams/events and the extent to which any investment delivers a legacy for Auckland and New Zealand," he said.
Marler said the figures of $140 million to $190 million were "very indicative costs".
Auckland Council chief executive Stephen Town said the funding will be included in the council's new 10-year budget on the basis that a funding package will need to be negotiated, sharing costs between council, the Government and private sector investors.
Team New Zealand favour the Halsey St option, but there is strong opposition to a large wharf extension of Halsey Wharf into the Waitemata Harbour from the Society for the Protection of Auckland Harbours and Stop Stealing Our Harbour.
Steve Armitage, Auckland Tourism, Events and Economic Development destination general manager, said the 2000 and 2003 America's Cup regattas delivered more than $1b in total benefits for New Zealand - mainly in the marine and tourism industries.
Team New Zealand has said it has a strong preference to hold the event in Auckland, but reserves the right to hold the event in Italy if suitable infrastructure is not available.
The deadline for a final announcement on the location is August 31, 2018.