Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

Review panel being established for regional development fund

8 October 2019

An independent review panel is being set up by Waikato Regional Council to assess four applications to its regional development fund.

The fund was set up through the regional council’s 2015-2025 Long Term Plan to support regionally significant projects which primarily enable economic development. This development must occur in a way that provides a win-win for both the economy and the environment.

Council chief executive Vaughan Payne said, “We’re excited to work with potential partners on their green growth ideas.

“While we established this fund several years ago, councillors have wanted it to develop in size before awarding monies so a meaningful contribution can be made,” Mr Payne said.

“We’re particularly keen to identify ways to make ratepayer money go further by leveraging opportunities between our fund and the Provincial Growth Fund set up by the Government in 2017,” he said.

Expressions of interest are being sought from people wanting to be on the independent review group comprising between three and five people. Applications close on Monday, 28 October.

The group will be responsible for making recommendations to council on whether to fund a project, how much it should receive, whether it should be provided as a grant or loan, and what conditions should be attached.

To be selected, Mr Payne said the successful applicants will need to have demonstrated:

• competence and understanding of the Waikato Regional Council Regional Development Fund Policy and council’s needs relating to the assessment of funding proposals

• proven experience of providing high quality, value-adding business, financial, investment and risk analysis and services at a governance level

• strategic vision and sound judgement

• understanding of environmental, social and cultural issues and opportunities for the Waikato region

• knowledge of the Waikato regional economy and the national and international economic context.

In making their decisions, it’s expected the group will take into account Waikato Means Business (the Waikato regional economic development strategy), the national context and economic relationships with neighbouring and complementary regions.

Money for the regional development fund comes from revenue from the council’s investment fund, after subsidising rates and allowing for inflation-proofing. By the end of 2018/19, the council had almost $5 million redirected to the regional development fund.

Waikato Regional Council will consider investing up to 50 per cent of project costs on a case-by-case basis, and any investment decisions will be at the discretion of the council.

To help potential project partners through the funding process, a procedures manual has been developed and is available on request from the council.

More information on the fund, and applying to be on the independent review panel, is available at www.waikatoregion.govt.nz/regional-development-fund.


ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Land, Air & Sea: Regions To Benefit From NZ Upgrade


Regional New Zealand will be a hive of activity in the coming months as the New Zealand Upgrade Programme delivers on its promise to modernise our infrastructure, prepare for climate change and help grow our economy. As part of the $12 billion NZ Upgrade Programme announced by the Government last month, $300 million was allocated for capital projects in regional New Zealand.
The first package of regional projects – worth about $190 million – has been announced by Regional Economic Development Minister Shane Jones at an infrastructure seminar today... More>>


 

Gordon Campbell: On The Donations Scandals

By now, it seems crystal clear that something is deeply amiss with the way that New Zealand political parties solicit, receive and report their funding. Evidently, the nominal threshold of $15,000 that requires public disclosure of the donation ... More>>

ALSO:

New Zealand Government: Action On Fuel Market Competition

The Government has released a comprehensive response to ensuring New Zealanders get a fairer deal at the petrol pump. This follows the Commerce Commission fuel market ... More>>

ALSO:



Child Poverty: 18,400 Children Lifted Out Of Poverty

Prime Minister Jacinda Ardern has welcomed new reporting showing the Coalition Government is on track to meet its child poverty targets, with 18,400 children lifted out of poverty as a result of the Families Package... More>>

ALSO:

Gordon Campbell: On Our Unreal Optimism About Coronavirus

At this week’s Chinese New Year celebrations, PM Jacinda Ardern was resolutely upbeat that business with China would soon bounce back to normal – better than ever, even - once the coronavirus epidemic has been brought under control. To Ardern, ... More>>

ALSO:


 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels