Trust chairman Graeme Clark requested the council allocated $250,000 annually to the Waitaki Heritage Fund, at the first day of council’s long term plan hearings yesterday. The trust also asked its three present loans, totalled at $532,500, be waived as equity.
While the heritage fund was under review and not accepting new applications, it was a vital way to help restore buildings in Oamaru and provided confidence for other project investors.
‘‘Incentives like the heritage fund offer opportunities for the council to engage with the building owner and look at other ways to assist owners and achieve good heritage outcomes. Sometimes the value of building relationships with owners is far greater than the cost of a small financial grant in the short term. It’s proactive,’’ Mr Clark said.
Renovating heritage buildings helped them become more valuable in the long term, and as rates increased, the funding was reimbursed through the years.
Allowing the trust’s three loans to be treated as equity was a future investment, as the trust’s 16 buildings attracted people to Oamaru, trust deputy chairwoman Frances McElhinney said.
‘‘We can continue to proceed and keep up lifting the trust as it is,’’ Mrs McElhinney said.
The trusts volunteers worked on ‘‘the smell of an oily rag’’ to remain successful, and needed the council’s support to continue creating valuable assets in Oamaru.
The council long-term plan received 429 submissions this year, and nine people spoke on the first hearing day yesterday. Hearings continue today. About 45 people were expected to speak to their submissions.
The final 2021-31 long-term plan is scheduled to be adopted on June 29.
