Work is resuming on the repair and refurbishment of Yarrow Stadium, as a $20 million ‘shovel-ready’ funding injection for the project is formally accepted by the Taranaki Regional Council on behalf of the community.
“We’re very pleased and most grateful to accept this grant, and arrangements are well under way for accessing the funds,” says the Council Chair, David MacLeod. “In the meantime, work is getting under way again, and the first priority will be repairing the West Stand.”
The West Stand is the smaller of the Stadium’s two grandstands, both of which were declared earthquake-prone in 2017 and 2018 and closed to the public. In 2019 the Council decided on a $50 million refurbishment and repair project, funded with a 25-year loan to be repaid via a targeted Yarrow Stadium rate. The works programme has been on hold while the project was reviewed against the changing circumstances arising from the impacts of COVID-19.
“The review has given us a clearer understanding of Yarrow Stadium’s medium-term prospects and we remain committed to restoring its status as the nation’s top regional venue,” says Mr MacLeod. “The $20 million funding injection makes this $50 million project possible on far easier terms – you will see a decrease of just over 40% in the Yarrow Stadium targeted rates from July 2021.” The grant came too late to affect the current year’s rates, which had already been set.
Mr MacLeod says final details relating to the East Stand are still being finalised, and more announcements will follow.