From:
Simon Ingram
To:
Ian Stabler
Cc:
Wes Patrick
Subject:
Draft text for inserting into variation to deed of funding
Date:
Thursday, 26 June 2025 4:46:00 pm
Attachments:
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Kia ora Ian
As discussed, we’ve just received word that Minister Simmonds' office confirmed
negotiations had been finalised and that the Government has committed to providing $1
million towards the $3.6 million funding gap for the FIF1021 Lake Tarawera Sewerage
Reticulation Scheme project. With the remaining $2.6m being addressed by BOPRC ($1
million), RLC ($1 million) and other rate payers ($0.6 million).
However, with time running out in the financial year we need to get moving with a variation
to the deed of funding.
Conscious you’ll not have the end of year figures at hand I plan on inserting the following
into the deed variation, based on figures we have to date.
Key changes being made to the Deed of Funding:
1. Extends due date from 30 June 2025 to 30 September 2025.
2. Increases Crown contribution from $6.5 million to $7.5 million*
3. Adjusts co-funding amounts:
1. BOPRC from $750,000 to $1,750,000**
2. RLC from $825,000 to $1,825,000
3. Rate Payers from $5,947,000 to $8,636,350.18***
4. Adjusting total cost values from $14,022,000 to $16,711,350.18****
5. Adjusting Crown co-funding ratio from 46.3% to 44.9%*****
I also plan on including the following footnotes:
*$7,500,000 is the maximum payable contribution, in line with the deed of funding (cl 2.1)
**$1,000,000 contribution from BOPRC is scheduled for payment in FY2026/27
***Minimum payable amount based on figures reported as of 30 April 2025
**** Minimum total project costs based on figures reported as of 30 April 2025
*****New Crown co-funding ratio based on figures reported as of 30 April 2025
Next steps: I’ll prepare a variation document and get it out to you for reviewing/signing.
Hoping to get this to you tomorrow.
If you need any further clarification on any of this, please let me know.
Cheers
Simon
Simon Ingram
Senior Investment Manager
Ministry for the Environment | Manatū Mō Te Taiao
022 020 0239 | [email address]| mfe.govt.nz
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