Tauranga City and the Bay of Plenty Regional Council have signed a heads of agreement that defines the main conditions and obligations for the $5 million regional infrastructure fund investment in the Tauranga Marine Precinct project.
The signing is one of a number of significant project milestones celebrated at a visit to the Mirrielees Road site this week attended by marine industry stakeholders, elected members and council staff.
This includes the marketing of adjoining properties to be sold as part of the project development and the appointment of marine industry consultant Phil Wardale as project manager.
The $10 million marine precinct project will create a purpose-built marine servicing facility and related infrastructure at Sulphur Point. $5 million of this funding will come from the Bay of Plenty Regional Council Regional Infrastructure Fund as a grant. Tauranga City Council's contribution of $5 million is to be offset by the sale of properties on and near the site.
The precinct will provide a base for a cluster of boat building and refit businesses and associated marine services. It is expected to provide jobs and significant economic value to the regional economy.