The Waipa Delta paddle steamer looks likely to set sail for Auckland Harbour after council talks failed to convince the owner to stay in Hamilton.
After a contentious six-to-five vote, Hamilton City Council decided it would commit up to $300,000 to build a slipway at Horotiu, about 10km north of the city, to retain the steamer.
The council's support was conditional on Delta owner Mark Goudie removing pontoons he had placed in the Waikato River beside Memorial Park without resource consent.
It also required the vessel to continue operating in the city for at least another five years.
But Mr Goudie said none of his recommendations had been addressed in a council report and he had "had enough".
"It's certainly taken its toll to the point where I just want to move on," he said.
"I could never find a buyer because there's no infrastructure ... I'll give the council credit that they at least acknowledged that was required but it's sort of a bit too late really."
Mr Goudie said he had spoken to the Maritime Museum in Auckland and was looking at the possibility of dinner cruises on the Waitemata Harbour.
"I think it would be good for us and good for them ... we think we have a good product but imagine we should do even better up in Auckland."
He is to meet Hamilton City Council chief executive Michael Redman this weekend for further talks about its future and will make an announcement early next week.
Hamilton councillors were split over the retention of the Waipa Delta, with some arguing the council should not be supporting a private business.
Others said the council should be trying to boost tourism initiatives on the river and improve its infrastructure.
Hamilton Mayor Bob Simcock said the decision was in Mr Goudie's hands.
Marine inspection rules require the Waipa Delta to be lifted out every two years.
It would have cost $150,000 to hire a crane to lift the paddle steamer.
Mr Goudie bought the floating pontoon but could not get resource consent to use it.
The Waipa Delta's last voyage on the Waikato River is scheduled for May 30.
Riverboat owner weighs city swap
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