Summary Of ACVL’s Approach To Valuing The Region’s
Investment In The Cup Village

Net equity investment 85.7

Less
 estimated realisable value 38.9
 proceeds from sale of logfarm 10.0
 net working capital 2.3
 funding from Ports of Auckland
and Government 11.0
____ 62.2
_____

Net Regional Investment 23.5

The net regional investment can be broken down into

 Investment in Village infrastructure 14.0

 Loss on public participation and
running the event 9.5

Herald’s Method Of Valuing The Investment

Net equity investment 85.7

Estimated realisable value 29.0

Loss on event 56.7

Note:

1. ACVL’s realisable value is based on advice from an independent, professional valuation report. It has been accepted by ACVL’s auditors, Audit New Zealand.

2. The Herald’s valuation is based on a questioned posed in a letter from an Infrastructure Auckland executive, in the process of preparing financial information.

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