The Waikato Regional Theatre, a project led by Momentum Waikato, will receive $6.4M from the Hamilton City Council-controlled Vibrant Hamilton Trust, (VHT).
The Council received the update from the Trust at its monthly Council meeting.
The grant follows a resolution by the Council in December 2017 as part of the draft 10-Year Plan, which recommended to the board of VHT make a $6M grant on the Council’s behalf. That resolution was confirmed in the final 10-Year Plan adopted in June 2018.
At meetings earlier this year the Trust explored how to give effect to this resolution, and resolved to pay its entire trust fund to Momentum Waikato, which is leading the project to develop the theatre.
Trustee Thomas Gibbons [pictured] told the Council the funding would act as a “kickstarter” to the Council’s financial contribution to the project.
GM Community Lance Vervoort said the Council would receive a full report on the funding for the theatre, and the trust was aware of the need to work within the ongoing financial arrangements.
A Momentum representative also reported good progress with fundraising targets for the project and further refining of design details on the theatre. At the same meeting, a plan to construct a path between Victoria on the River and Embassy Park was put on hold pending further design details for the Waikato Regional Theatre. The Council will also consider the prioritisation of a range of River Plan projects emerging from recent work.
The Council also asked staff for a further exploration of costs for a range of repair methods to a section of the river path network, at Te Hikuwai, in the city’s northeast. Further information will be provided to the Council at a later date. The slip at Te Hikuwai has covered the path meaning it has been closed for an extended period.