Matamata Stadium
What has increased
We made a commitment in 2018 to Matamata Futures Trust to provide $2 million towards a new indoor stadium for the community, located at Matamata College.
Once it is complete, Council will be the majority owner of the stadium and the Ministry of Education will own the balance. The facility will be managed by Council.
Why are we increasing funding?
As the project planning progressed and costs increased, the project governance team requested an increase in Council’s contribution, to $3 million.
The timing of this funding was always subject to Matamata Futures Trust raising the balance of the funds required, with Council’s contribution to be made once construction began. It was initially expected to begin in 2023, but project and funding delays meant that this funding was not drawn down until 2024.
We consider it a must do project, as it is already well underway.
$3m towards the stadium in 2024/25.
Standard of service this would provide:
Improvement in access to sports facilities in the district.
Impact of debt:
$3 million following completion in 2024/25.
Average additional operating costs:
$489,000 following completion in 2024/25.
Average additional cost per household per year:
$19.97 following completion in 2024/25.
We had previously budgeted to contribute $2m of funding in 2023/24, subject to Matamata Futures Trust raising the balance of the funds required.
Standard of service we would provide:
Improvement in access to sports facilities in the district.
Impact on debt:
$2 million from 2023/24.
Average additional operating costs:
$108,000 from 2023/24.
Average additional operating costs per property per year:
$4.42 from 2023/24.