The project would have the ''arches'' which make up the the old swimming pool building at the entrance to Lawrence stripped of external panelling and used as a structure for a recreational gardening.
The project has been in the pipeline for almost two years as the group behind it has slowly been working out demolition and conversion costs.
The Lawrence-Tuapeka Community Board had at previous meetings supported the project ''in principle'' as it was agreed something needed to be done with the former pool site, which has been described as an ''eyesore''.
The project has been added to a priority list under the Lawrence Heritage Trust and trust chairman Roger Cotton wrote to the community board asking for financial assistance for the project.
The trust had a goal of raising $33,000 for the conversion and had so far raised $19,000.
He said there had been a lot of work and planning for the community project and felt if it was not ''ready to go'' by November then it would be an ''opportunity lost''.
''The shortfall in funding is the only hold-up.''
Mr Cotton asked for at least $3000 from the board.
During the meeting, board member Paul Tansley said it would not be appropriate to support the project from the board's project funds.
He understood the board had previously agreed to support the plans ''in principle'' on the condition the board would not offer financial assistance.
However, the trust had also applied for assistance from the Kate Leslie Fund, which was intended to be used for the ''beautification of the Lawrence township''.
The board agreed the arches project met the criteria for the Kate Leslie Fund and approved $3000 to the heritage trust to complete it,
The board deferred making a decision on whether to additionally offer financial assistance from the project funds.
The Clutha District Council had set aside $25,000 for the demolition and removal of the ''unwanted building'' at the swimming pool site which was not part of the conversion of the remaining arches.
Once the walls and roof were removed, the pools would be filled in with earth.
The trust had applied for additional funding from other community trust funds and was waiting to find out if they had been approved.
It hoped to start work on the the project over the summer months.
