Marine Precinct funding agreement signed

Bay of Plenty Regional Council Chairman Doug Leeder and Tauranga Mayor Stuart Crosby sign the Tauranga Marine Precinct funding agreement. Photo/Supplied

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.