Council gives infrastructure fund go-ahead

Bay of Plenty Regional Council's first contestable Regional Infrastructure Funding round will be held in 2012/13, following yesterday's adoption of the Council's Ten Year Plan.

The Regional Infrastructure Fund has been set up to provide additional funding to assist the development of major infrastructure projects in the Bay of Plenty region. Its aims are to help to accelerate infrastructure projects, improve the outcomes and quality of projects, or increase the scope of projects.

Regional Council Chairman John Cronin said council will open the Fund with an Expressions of Interest process.

"This process will allow us to assess the level of interest in the Fund and the time period over which funding might be sought and drawn down," Mr Cronin said.

"It will also allow Council to provide early guidance to potential applicants on matters such as eligibility, and to help us set expectations ahead of the formal application process about the level of potential funding likely to be applied for versus the total funding available."

Expressions of interest will open on 20 August and close on 21 September 2012, with a formal application stage to follow later in the year.

"A briefing for prospective applicants will be held at the same time that we ask for expressions of interest and we ask anyone interested in the fund to keep an eye on our website www.boprc.govt.nz and their local newspapers for more information around the date and time," Mr Cronin said.