The Auckland Theatre Company remains upbeat despite shrinking support among Auckland councillors for funding its planned waterfront venue.
Three councillors have withdrawn their backing for a $10 million ratepayer contribution and others say they may follow suit if the company can not secure nearly $20 million the middle of this year.
Auckland Theatre Company general manager Lester McGrath says it is a tough fund-raising environment, but the plan to build later this year as part of the new ASB Bank head office has a lot going for it.
Mr McGrath says the company will meet the Lotteries Commission on Friday and has a funding bid with the ASB Community Trust.