Funding

Who paid for the Events Centre?

The overall cost to ratepayers of the current project is capped at $16 million.  The Regional Council agreed to fund a $13 million capped stake in the multi-purpose events centre – subject to conditions – and the Whāngārei District Council a $3 million share. In May 2009 the Government announced it would contribute an additional $2.5 million funding.

Overall, the funding will come from three main sources:

Northland Regional Council

Northland Regional Council funded a $13m stake in the Okara Park-based Northland Events Centre.

Councillors voted to raise a loan to fund that stake and repaying that loan will cost ratepayers in the Kaipara and Far North Districts an additional $5.63 (incl GST) annually and ratepayers in the Whāngārei District $33.75, falling to $28.13 after three years).

Whāngārei District Council

The Whāngārei District Council contributed the remaining $3m from funds already agreed to for Okara Park.

The District Council has also agreed to establish mechanisms to underwrite any operating deficit, should it occur while not committing to fund the deficit.

New Zealand Government

The Government contributed $2.5 million to allow the events centre facility to meet Rugby World Cup standards. The funding is in line with grants provided for stadia in Dunedin and Christchurch.