Yarrow Stadium options revealed
Taranaki Regional Council has recommended spending $55 million to repair and upgrade Yarrow Stadium for use as a first class sports facility.
The recommendation is among eight options on the future of the stadium to be put on the table at the Taranaki Regional Council’s full monthly meeting on Tuesday.
The future of the stadium, which has seen two main stands closed to the public due to earthquake risk since mid 2018, is among the
2019/2020 annual draft plan proposals to be released for public consultation.
Key points in the draft plan included the options to repair and reinstate the 25,000 capacity rugby stadium, which was worth $100m to the Taranaki economy over the past
15 years.
In the draft plan the TRC has recommended raising up to $55m to repair the stadium, which is owned by the TRC-controlled Taranaki Stadium Trust and managed by the New Plymouth District Council. To pay for it establishing a separate fixed charge rate to repay the loan over 25 years is recommended.
The TRC is to consider eight options ranging from demolishing the West and East stands and regrassing the areas, to repairing the stands, or building a new roofed-in stadium.
The cost estimations for the options ranged from $6m for demolition and re-grassing, up to $271m to build a new stadium with a roof.
Other options included repairing the East Stand and demolishing the West Stand ($50m), repairing the existing stands and improving community facilities ($69m), or building three new stands ($113m).
Ratepayer funding for Yarrow Stadium is currently split between New Plymouth (78 per cent), Stratford ( five per cent) and South Taranaki (17 per cent).
If the TRC decided to repair the stands and borrow $55m, a proposed annual targeted rate cost to New Plymouth and North Taranaki households would be $76, and $51 for Stratford and South Taranaki households per year. Commercial and industrial ratepayers would pay $428 annually.
TRC had been advised it could borrow up to $80m to fund the repair bill but has chosen to limit borrowing to $55m to be fully repaid after 25 years.
No decision on any of the eight options will be made by the regional council until the proposals have been put out to public consultation.
Public submissions for the 2019/2020 annual plan, including the stadium options, close on April 23.
A two day submissions hearing will be held on May 13-14. Next week’s meeting will also cover strategies for pest management, regional waste and transport, civil defence, river and flood control, and regional gardens.