"So, what was to be quite a realistic price for design, construction including labour and materials and installation has now blown to heights which I'm not totally convinced we can reach without a major sponsor coming on board.
"I am uncomfortable with ratepayers having to foot the bill for vandals tagging, or as we've experienced lately, a storm ripping them down."
Mr Spellman said he was doing all he could for the project behind the scenes. "I'm still totally committed to the project, the impact of this will live on in our city longer than I will."
Awanui Black, who is on the board of the Maori Language Commission, supported the project.
The initiative would make Tauranga stand out from other cities in New Zealand and help restore the language, he said.
"The word Tauranga means safe anchorage, why not make it a place of safe anchorage for the Maori language," he said.
Of 10 different businesses located in the Tauranga CBD, half of them said they would support the project by using the words "kia ora" instead of hello when greeting customers.
Cabbage and Kings owner Val Auld said the project would gradually grow if it was encouraged more.
"It would make it an exciting place to come and visit particularly when we have so many cruise ship visitors to the area."
Gisborne was also aiming to become New Zealand's first bilingual city.
In a nutshell
The goal: To make Tauranga a te reo Maori-friendly city.
The plan: Bilingual signs, throughout our central city and Mount Maunganui - and also in high populated tourism areas where we can make te reo available to our city and our visitors.
*Te reo-friendly first and last impressions - through bilingual signs.
*Kia ora pledge - encouraging local businesses to commit to greeting customers with "kia ora", thus entrenching our native acknowledgement as our official local greeting for all.
*www.facebook.com/taurangatereo