Rurawhe Adrian; Faafoi KrisAMERICA'S CUP ROAD STOPPING BILLFirst ReadingASSISTANT SPEAKER (Adrian Rurawhe): I call the Hon Chris Finlayson—ah Kris Faafoi.Hon KRIS FAAFOI (Minister of Civil Defence) on behalf of the Minister for Economic Development: Mr Assistant Speaker I'm not sure who's going to take offence! I move That the America's Cup Road Stopping Bill be now read a first time. I nominate the Environment Committee to consider the bill.At the appropriate time I intend to move that the bill be reported to the House by Monday 3 September 2018 and that the committee have authority to meet at any time while the House is sitting except during oral questions during any evening on a day on which there has been a sitting of the House and on a Friday in a week in which there has been a sitting of the House and outside the Wellington area despite Standing Orders 191 193 194(1)(b) and 194(1)(c).The purpose of the America's Cup Road Stopping Bill is to support construction relating to and the operation of the 36th America's Cup in Auckland by permanently stopping a portion of Brigham Street on Wynyard Point. Hosting the America's Cup has the potential to bring economic social and cultural benefits to New Zealand. Cost-benefit analysis estimates are neutral or a slightly positive return on investment and shows that the America's Cup could generate economic benefits of between $600 million and $1 billion over the period of 2018 to 2021. In addition there are expected leverage and legacy benefits for all New Zealanders particularly the continued revitalisation of Auckland's waterfront and reputational cultural and national pride effects.The Government announced in March that the Wynyard-Hobson option has been selected as the location for the 36th America's Cup. Negotiating the Wynyard-Hobson option required cooperation between central government local government and Emirates Team New Zealand. The final agreed option resulted in a major cost reduction for taxpayers and Auckland ratepayers of more than $50 million compared to other options with an intrusion into the harbour of only 6600 square metres compared to other options which envisaged intrusions of up to 22800 square metres. As well as being less expensive and creating a smaller harbour intrusion than other options the Wynyard-Hobson option also allows the earlier removal of hazardous substance tanks from the southern part of Wynyard Point. It is more straightforward to consent and creates a positive legacy for Auckland. It is a venue that all New Zealanders can be and will be proud of.For the Wynyard-Hobson option to be viable a portion of Brigham Street on the Wynyard Point needs to be stopped by early November 2018 to enable construction of syndicate bases which will stretch across Brigham Street to enable boats to be launched from the Wynyard Wharf during the America's Cup regatta itself. The portion of road to be stopped is currently owned by the Auckland Council and managed by Auckland Transport. The America's Cup Road Stopping Bill will permanently stop the road by removing the road status of a portion of Brigham Street and allow for the Auckland Council as owner to apply for title to the former portion of road.As the landowner Auckland Council will be responsible for stopping vehicle and public access to the land to enable construction and event activities to occur. A new link road connecting Hamer Street and Brigham Street will be created to enable continued access to Wynyard Point. The portion of Brigham Street is required to be stopped by 1 November to allow construction to start and for this reason I move that the select committee report back in a shortened time frame of two months on 3 September 2018. This will allow the bill to be passed by 1 November 2018.Legislation is being pursued because normal road stopping processes under the Local Government Act 1974 and the Public Works Act 1981 were unable to stop the road in the required time frame. Road stopping under the Local Government Act would take a minimum of six to 12 months which would not enable the construction to begin by November this year. As Brigham Street directly abuts the water stopping the road under the Public Works Act would trigger the requirement to provide an esplanade reserve along the water's edge. As construction and operation of the bases requires launching facilities up to the water's edge such a reserve would not be compatible with the construction and operation of the America's Cup. If we were to stop the road under the Public Works Act we would therefore need to apply to revoke the esplanade requirements. This process would take up to 90 months which again would not enable the construction to begin by November of this year. For these reasons we have proceeded with the use of legislation for stopping a portion of the road which is in the House now.Officials are seeking written approval to the road stopping from affected tenants and have consulted the Auckland Council Auckland Transport and Panuku Development Auckland on the road stopping. As ownership of the land will remain with Auckland Council the Office of Treaty Settlements have advised that as there appears to be no Crown interests in the land there are therefore no implications for the Tāmaki Collective or any other right of first refusal. Officials have been engaging with mana whenua in Auckland on the development of infrastructure for the America's Cup and will continue to engage with iwi as part of the larger America's Cup project and on the road stopping on Brigham Street.This is a specific bill with limited impact which will ensure that the portion of Brigham Street can be stopped in a timely manner to enable the construction of the syndicate bases for the America's Cup. This bill has no wider application in respect of any other road stopping. So I commend this bill to the House.