The Wellington City Council will launch a review into the costs associated with the Golden Mile to ensure a clearer financial picture of the project, following today’s first full Council meeting of the 2025-28 triennium.

Councillors agreed to endorse an independent review that would test, in the context of current economic conditions, whether the existing project remains viable and aligned with its original objectives in light of significant cost and risks escalation.

Mayor Andrew Little said the review would take three to six months, with Council officers providing an estimation of the review costing between $200,000 to $400,000. It would include economic analysis on both the long term impacts of the project and also in the short term across the full corridor from Lambton Quay to Courtenay Place.

“One of my first actions on being elected Mayor was to ask for a review because it was apparent Council no longer has a clear pictureonthe costs of the Golden Mile project,” said Andrew Little.

“The review will provide up-to-date information, so that decisions on the future of the project are based on the most current costs and the real and likely cost to Council.

“The project estimates are now several years old, the project cannot be delivered within the existing budget and the risk for ratepayers to be stuck with expensive, inflexible contracts is simply too great.

“I have been consistent insupporting the Golden Mile in principle, but I have committed to Wellingtonians thataCouncil I lead will get a much better handle on finances.

“There is no risk of penalties to existing contracts because no contract has been signed. As risks were assessed, Council officers have not progressed detailed negotiations.

“The review does not relitigate the benefits of the Golden Mile project, and as such will maintain the project’s current level of central government support.

“Although the government has agreed to fund 51 per cent of the project, that was based on a business case done four years ago. Meanwhile, Council is potentially on the hook for any cost escalations.That’swhy we need this review.”

Also at the first substantive full meeting of the Wellington City Council for the 2025-28 triennium, Councillors unanimously agreed Council’s committee structure, committee chairs and membership and appointments to Council-Controlled Organisations (CCOs), Council Organisations, External or Joint Committees and other Organisations, among other items.

Details for Committee membership and Organisation appointments will be published on Friday 21 November at this page: https://wellington.govt.nz/your-council/meetings/committees

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