By BERNARD ORSMAN
A trust could be formed to run future events at the America's Cup Village.
Auckland local body leaders are weighing up what to do with the village and how to pay for future America's Cup regattas.
Among the options is to put all the public assets at the Viaduct Basin
into a trust funded from rates, central Government and private sponsorship.
Infrastructure Auckland, which, through a subsidiary, America's Cup Village Ltd (ACVL), managed the recent event, is keen for someone else to run the next one.
It has been holding talks with the Auckland City Council before the existing structure starts to unravel on June 30.
From that date, the artificial island goes back to Auckland City, the eastern wharves are returned to Ports of Auckland and ACVL keeps seven syndicate bases. The resource consents ACVL has for the bases and water space also start expiring.
Council chief executive Bryan Taylor said yesterday that work was still being done on a preferred option to take to the Government.
Auckland City wants the Government to make a sizeable contribution to the running costs of the next America's Cup event. Running the last event cost $9.3 million.
Mayor of Auckland Christine Fletcher said the America's Cup was not just a sporting event. It had tourism, marketing and other components that needed to be costed and taken to the Government.
The chairman of the electoral college which oversees Infrastructure Auckland, Manukau Mayor Sir Barry Curtis, has suggested that a trust take over the running of the village.
He said corporate sponsorship was crucial to the success of the next event and companies would feel better giving money to a trust than a political organisation like a council.
Meanwhile, talks going on between ACVL and the private owners of the old log farm which housed four syndicate bases could see the land kept for future Cup events.
ACVL chairman Peter Kiely said yesterday: "Discussions are proceeding satisfactorily and I anticipate a resolution very shortly."
