The council had considered a number of different adventure activity proposals for the forest before choosing Redwoods Outdoor Adventure Activities.
At the time, Mr Schmid said he was looking for local investment partners to join him and wanted to offer employment to locals with outdoor adventure qualifications.
The location of the new venture is between Rifle Range Rd and the main Redwoods car park.
The council's community engagements & events leader Julianne Wilkinson said she expected work on the project to proceed in the "not too distant future".
Mrs Wilkinson said resource consents had been received and processed and the council were working closely with the German couple.
She said the council was "confident that they remain fully committed to the project".
"The original timeframe for physical work to get under way has been moved out, while the company finalises arrangements with investor partners.
"We understand that Mr Schmid and Ms Muller-Gross will be re-scheduling construction work as soon as current discussions are concluded.
"The council is looking forward to the development offering a new and unique experience for visitors to Rotorua," she said.