A fund aiming to inject $38 million into infrastructure development in the Bay of Plenty is now open for formal applications.
The Regional Infrastructure Fund opened for applications last Wednesday and the regional council is expecting requests will exceed what is available based on demand indicated in the recent expressions-of-interest round.
The Regional Council has set aside $38 million in its Ten Year Plan 2012-2022, available over nine years, for projects that promote sustainable regional economic growth or promote environmental protection and enhancement that supports sustainable regional economic development. Bay of Plenty Regional Council's General Manager Strategy Fiona McTavish said applications would need to be comprehensive and projects strongly aligned to the fund's aims to be eligible for consideration.
"We expect the total amount to be asked for in the applications is likely to more than what is available," Ms McTavish said.
"With 47 expressions of interest received, signalling requests for approximately $250 million funding, we, unfortunately, expect there will be some disappointed applicants once we've assessed all applications."
The application round closes on February 7.
For more information, visit the Regional Council's website www.boprc.govt.nz/rif