Aucklanders are being told their stakes in the city's port and America's Cup Village are safe for the next three years.
The message is in the draft long-term funding plan of Infrastructure Auckland, which outlines the funding authority's estimate of handing out $675 million in transport and stormwater grants over the
next five years.
The authority expects it will have to sell some assets to cover the grants, but these will not be its 80 per cent holding in the Ports of Auckland or 100 per cent in the America's Cup Village until the end of the next cup defence in 2003.
Although it is not a shift in recent Infrastructure Auckland policy, it does set it out publicly for the first time.
"This document makes that very explicit," said chairman John Robertson. "The whole document gives a degree of clarity or certainty as to funding ability and funding sources.
"There are sufficient cash reserves to fund the next four years of potential grant applications."
Public transport will be the $410 million winner under the plan, which is only an estimate of what grant applications Infrastructure Auckland expects to receive by 2005.
Another $90 million is set aside for roading, $75 million to relieve congestion and $100 million for stormwater.
The statement delighted Auckland mayor Christine Fletcher.
"I think they are being more responsive to the view of the Electoral College and reflecting the view that there is not public support for the sale of the Ports of Auckland.
"It has been a long-running and controversial issue and it's important we get that issue resolved so we can focus on the priority of getting transport solutions working."
But pro-sales Auckland councillor Jon Olsen called it absurd.
"They have got all this money and they won't use it," he said.
The Auckland Business Forum, which has been advocating completing the motorway network by 2010, was also unhappy that public transport was getting the lion's share of the grants.
"It is an unequal spend of Auckland ratepayer money," said spokesman Tony Garnier.
Public comment will be called for next month.
