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be better than the old one from the point of view of protection from the winds. It is true it is a little further away, but the extra distance is so small as not to be any detriment.
Mr. Nicol's very rough estimate, at to-day's prices, of the cost of the whole scheme, including the reclamation and the construction of the necessary sea-walls, is $12,000,000. gather that the premiums to be obtained on the sale of the land so reclaimed, would be likely to amount to not less than $24,000,000, while, in addition, the annual Crown rent to be derived from the land, based on present values, would be about $109,700. It does not seem to be necessary to emphasise the desirability of this undertaking, which would give 310 acres of much needed land for development, in addition to an improved refuge harbour.
At a future date, when the need arises for further piers beyond those mentioned in paragraph 92, it would be well to extend this reclamation to the dotted line shown on the plan. This would then involve the rebuilding of the vehicular ferry pier, which would be justified by the land reclaimed and the improved frontage line. It must be pointed out that the estimates of cost of reclamation do not include anything for dealing with the sewerage problem in the vicinity of both of these reclamations. That would have to be faced but it would appear that there would be an ample margin of money available for that
purpose.
I have not gone into detail with regard to the cost of each of these two reclamations,