The campus was planned to be built in Durham St on the carparks opposite the old Bay of Plenty Times buildings. Funding will be conditional on the Tauranga Energy Consumer Trust (TECT) granting the other $15 million.
The council would need an additional $5 million to get the marine precinct off the ground. The basic infrastructure of the precinct was a boat travel lift and the construction of a sea wall and hardstand on which the boats would rest in cradles after they were lifted from the harbour.
The grants from the infrastructure fund and TECT were an essential step in getting a fully-fledged campus for Tauranga because the Government would not fund the buildings. The campus is a joint initiative of the Bay of Plenty Tertiary Education Partnership, which includes the University of Waikato and the Bay of Plenty Polytechnic.
The first two stages costing about $30 million were for two buildings at least five storeys high to house 1000 equivalent full-time students (EFTS). It was hoped that construction of the first building would begin in time to enrol at least 500 EFTS in 2015. Stage two would begin in 2019.
The students will pour at least $30 million a year into the city's economy through fees, accommodation and personal spending.
A key component of the campus was signed off by the council last year when it agreed to grant a 33-year rent-free lease for the land split between a public and polytechnic student carpark.
TECT chairman Michael Cooney said the trust had not made a decision on the $15 million application. He understood that if the regional council confirmed its support for the campus, it would be subject to a number of conditions, including TECT funding.
Mr Cooney said trustees would need to be satisfied that there was an appropriate business case for the campus. It needed to be properly structured and deliver strong economic benefits to the district.
Tauranga's boat refit industry has responded enthusiastically to the $5 million contribution towards the infrastructure for a refit yard.
"It is what we need", said one refitter.
The industry had gone backwards since it lost the 600-tonne slipway to the new Harbour Bridge and the heaviest boats that could now be lifted out were 35 tonnes.
A refitter, who asked not to be named, said the marine precinct would offer a lot more certainty to the industry by offering a travel lift that could handle heavy commercial boats.
He believed the marine precinct would also attract refit business from outside the Bay. "This will allow the growth that we all know Tauranga needs."
Politicians and others involved in the $38 million infrastructure fund declined to comment until the official announcement was made.
