Ms Hardaker said she made her final decision after a long hard think and had mixed feelings about the issue.
"I have come to the view that I don't think this is a priority on the list and we have got bigger issues we have got to face in this council."
She also took exception to the regional council passing the buck to other councils in making its decision on the $6 million funding.
"I think on reflection that process was wrong."
Ms Hardaker last week put forward a motion to submit in favour of the velodrome which slipped through 6-5.
City councillors strongly opposed to ratepayers funding the centre through the regional rate made passionate pleas.
John Gower hinted about a breach of process while Angela O'Leary said they were making a mockery of promises the council had made because of the tough financial challenges ratepayers were facing.
Gordon Chesterman said it was the wrong time to discuss introducing a regional rate on facilities. He said the council should have been involved in the $68 million Claudelands Event Centre or the Home of Football if it was going to take that view.
The opponents also criticised the regional council for withholding the results of a phone survey on the velodrome.
But Dave Macpherson said $3.18 per ratepayer per unit was on the "margin of being acceptable".
Margaret Forsyth said it didn't matter what the city council put in its submission because the answer would be in the 7000+ submissions the regional council had received from the public.
Councillors Forsyth, Macpherson, Daphne Bell, Pippa Mahood, Maria Westphal and Martin Gallagher voted for the amendment while Mayor Hardaker and councillors Gower, Chesterman, O'Leary and Roger Hennebry were against.
Councillor Peter Bos declared a conflict of interest and councillor Ewan Wilson was absent.
Waikato Regional Council has set aside September 6 and 7 for public hearings on submissions and will make its decision on September 14.
