SH1 Newmarket Viaduct replacement project – cost increase funding

Applicant

NZ Transport Agency

Purpose

To seek the Board's approval for funding the cost increase for the NZ Transport Agency's SH1 Newmarket Viaduct replacement project during construction phase.

Date of decision

27 February 2009

Resolutions

The NZ Transport Agency Board:

1. approves a cost increase of $14.54 million for the NZ Transport Agency's SH1 Newmarket Viaduct replacement project from N funds, taking the total cost of the project to $215.30 million;
2. notes that the cost increase will result in an increase in the NZ Transport Agency's projected deficit and finance cost brought about by the advancement of the project, which will result in an effective reduction in the Auckland region state highway programme for the 6 year GPS period;
3. notes the reasons for this decision are as set out in the Reasons for recommendation section; and
4. agrees to take Board paper 09/02/0142 out of Committee when the Board has published notice of its decision.

Reason for the decision

The assessment profile for the activity following the cost scope adjustment is determined as being of High seriousness and urgency, Medium effectiveness and Medium efficiency.

The project will continue to contribute to LTMA objectives of economic development and public health.

It is confirmed that the matters in sections 20(2) and 20(5) of the LTMA have been satisfied, and that the matters in section 20(3) have been taken into account.

If you would like details of how the assessment profile for this activity was determined, please email us at boardsecretariat@nzta.govt.nz.