Some $3 million could be wiped off the value of a typical 150-room establishment – Dean Humphries
The money is earmarked to replace more than 50% of ratepayer funding for Ateed.
"What happens to the poor investor that is hooked under a long-term hotel lease ( eg Waldorf that rents apartments) with the investor having a triple increase in the rates with no corresponding change in the hotel lease payment?"
It should not have come as any surprise to Mr Goff a regional fuel tax has been ruled out.
"The mayor says he is disappointed at the decision given the city’s worsening traffic congestion." Translation - "I am now going to have to raise Auckland rates way beyond what I promised to cap them at. I can kiss goodbye to a 2nd term."