LGFA is pleased to report its latest Green, Social & Sustainability (GSS) Loan to Tauranga City Council (TCC) under its “Terrestrial and Aquatic Biodiversity Conservation” category.
LGFA provides a discounted loan margin to councils to finance eligible GSS projects.
The is the first GSS loan under LGFA’s Terrestrial and Aquatic Biodiversity Conservation category, and TCC is borrowing up to $10.3 million to finance the work to realign and restore the Kopurererua River, along with the creation of a new cycle path and a new wetland at the Kopurererua Valley Reserve, a 364-hectare inner city reserve in Tauranga.
In partnership with Ngāi Tamarāwaho and Bay of Plenty Regional Council, TCC will deliver the following benefits through this amazing project:
- The realignment of the river channel, and the subsequent creation of a wetland will slow the flow of the water, improving water quality, assisting in flood control, and ultimately providing climate change resilience. Approximately 200,000 plants will be planted to restore the valley and assist with this resilience.
- The realignment of the river will recreate fish and bird habitats, and help to restore the mauri that has been lost over time. It will restore the path followed by Taurikura as she swam out to Tauranga Moana, and finally landed at Karewa Island.
- Community access and connection to the reserve will increase significantly