Marine Precinct funding agreement signed
Thursday, 19 November 2015 10:00 a.m.
A $5 million agreement providing funding to the Tauranga Marine Precinct was signed yesterday by Tauranga City Council and Bay of Plenty Regional Council.
Bay of Plenty Regional Council has provided the funding through its $42 million Regional Infrastructure Fund, which was set up to support and promote economic development in the Bay of Plenty. The fund has been fully allocated to four major projects in the region.
Regional Council Chairman Doug Leeder said he looks forward to seeing the benefits that the decision to support the Tauranga Marine Precinct has on the local and regional community.
“It’s through projects such as these that we hope the Regional Infrastructure Fund can benefit the region.
“Our support will help protect the local marine industry, create opportunities for economic development and in turn contribute to jobs remaining here and being created here. It’s an important step in preventing the loss of skill and knowledge from the region.”
Mayor Stuart Crosby said that Tauranga City Council is proud to be leading the development of the Tauranga Harbour Marine Precinct.
“This project connects us to our strengths. Through it we’re leveraging our advantages in terms of location, of connectivity to the region, the country and the world, and our already strong marine industry.
“This is Tauranga truly embracing its entrepreneurial spirit. With the growth of our city, this is the kind of project we need to support our networks and businesses, offering them real opportunities and an inspirational future. We look forward to seeing the precinct set up and in action soon.”
The signing of the agreement means the $5m grant will be progressively transferred from the Bay of Plenty Regional Infrastructure Fund to Tauranga City Council. The project will now begin the procurement of the travel-lift and consequently the sale of eight lots within Stage 1 of the Marine Precinct’s development, with funds to be reinvested in the further development of the precinct.
About the Marine Precinct project
The Tauranga Harbour Marine Precinct is a $10m project to deliver a purpose-built marine servicing facility at Sulphur Point. The precinct will provide a base for boat building and refit businesses in Tauranga City and will be managed by Tauranga City Council under the Vessel Works brand.
By late 2016 (stage 1 development), the precinct will include lots in a range of sizes for marine businesses, a 6200-square metre vessel storage area (hardstand), deep-water marina berths for large vessels and New Zealand’s largest vessel hoist (300-tonne haulage capacity and extra-wide).
Further development (more lots, extension to the hardstand) will be undertaken in stages, based on demand from the industry.
The Bay of Plenty Regional Council is the funding partner for the Marine Precinct project, contributing $5 million through the Regional Infrastructure Fund. Tauranga City Council’s $5 million contribution will be offset by the sale of properties on and near the site.
For more information please view the project website: www.vesselworks.co.nz
About the Regional Infrastructure Fund
A contestable fund to support and promote economic development in the Bay of Plenty. The fund is a commitment made in Bay of Plenty Regional Council’s Ten Year Plan 2012-22.
Provides additional capital funding to assist in the development of major infrastructure projects that support sustainable regional economic development.
The aim is to help accelerate infrastructure projects, improve outcomes and quality of projects and/or increase the scope of projects.
A total of up to $40.5 million in funding was awarded for four projects:
- A Harbour Marine Precinct for Tauranga City (up to $5m);
- An Innovation Centre at Scion’s Innovation Park in Rotorua (up to $2.5m);
- A shared tertiary campus in Tauranga (up to $15m);
- The Opotiki Harbour Transformation (up to $18m).
An extra $2m was allocated to Ōpōtiki Harbour through Long Term Plan 2015-2025 (bringing the total Ōpōtiki Harbour allocation to $20m and the total RIF to $42.5m.