Fund aiming to inject $38 million into the Bay of Plenty
The Regional Infrastructure Fund opens for applications on Wednesday 7 November, and Regional Council is expecting funding requests will exceed what is available based on demand indicated in the recent Expressions of Interest round.
The Regional Council has set aside $38 million in its Ten Year Plan 2012-2022, available over nine years, for projects that promote sustainable regional economic growth, or promote environmental protection and enhancement that supports sustainable regional economic development.
Bay of Plenty Regional Council’s General Manager Strategy Fiona McTavish said applications would need to be comprehensive and projects strongly aligned to the fund’s aims to be eligible for consideration.
"We expect the total amount to be asked for in the applications is likely to more than what is available," Ms McTavish said. "That is why we are advising all those who are thinking about submitting an application to ensure they have their business cases finalised, and that they have read and met the funding criteria."
"With 47 expressions of interest received, signalling requests for approximately $250 million funding, we unfortunately expect there will be some disappointed applicants once we’ve assessed all applications."
The application round closes on 7 February next year.