Tauranga community $40m richer after TECT grants

Bill Holland and Paul Broatch with some of the TECT money given out to Tauranga community's this year. Photo/supplied

Local community organisations and households will be $40 million better off this year, thanks to distributions made by TECT (Tauranga Energy Consumer Trust).

TECT has granted over $4.5 million to 152 community organisations so far this year, including $2 million of grants last month, it said in a statement released today.

In the October funding round, 34 community organisations received funding.

Habitat for Humanity's latest housing development was one of 17 Community Amenities projects supported. Their grant of $200,000 was presented to Habitat for Humanity Trustee Paul Broatch earlier this week.

"Habitat for Humanity believes everyone deserves a decent place to live. TECT's funding is vital for us to continue with our building programme. This money will go directly toward helping us house needy families in Tauranga" Mr Broatch said.

Over the past 22 years, the Trust has granted $93 million to a variety of local community organisations and causes such as the Tertiary Education Campus, Trustpower TECT Rescue Helicopter, Baywave, TECT All Terrain Park, ASB Arena, Waipuna Hospice and St John.

TECT General Manager Wayne Werder said more than 200 organisations and causes would benefit from TECT's financial support in 2016/17.

"I think it's fantastic that we have this asset for the Western Bay of Plenty region and we can support a variety of causes and organisations that play such an important role in our community," he said.

Set up in 1993 as part of the electricity industry reforms, the Trust uses its income to make direct and indirect distributions to its beneficiaries who are eligible Trustpower consumers in Tauranga and Western Bay of Plenty.

Over the last 23 years TECT has distributed $306 million by way of cheques back to consumers. The Trust is currently preparing to send out this year's TECT cheque to over 56,000 Trustpower consumers, which will total $31.2 million. Cheques will be delivered from early to mid November.

TECT Chairman Bill Holland said the Trust was committed to ensuring benefits flow to the region, which includes community grants and the expenditure of distributions back into the local retail sector.

"Importantly, the money distributed by the Trust ends up staying in the region and that benefits everyone."