Taranaki Regional Council ratepayers are facing footing the bill for Yarrow Stadium’s redevelopment for longer than originally planned.
An emailed press release on Thursday, July 6 from Taranaki Regional Council gave rising costs and inflation as the reason behind a budget increase of $9.7 million.
The press release quoted Taranaki Regional Council chairwoman Charlotte Littlewood saying it was a reality that projects such as this one were facing increased pressures currently.
“While we are disheartened to be in front of the community talking about another increase in budget, the reality is that projects in New Zealand and abroad are facing the same significant cost pressures as the redevelopment of Yarrow Stadium.”
She said while the budget has increased, the total contributed by ratepayers remained under the $50m approved in 2019 as part of an extensive public consultation and engagement process.