LGFA is pleased to report its latest Green, Social & Sustainability (GSS) Loan to Tauranga City Council (TCC) under its “Climate Change Adaptation” category. LGFA provides a discounted loan margin to councils to finance eligible GSS projects.
Under LGFA’s Climate Change Adaptation category, TCC is borrowing up to NZ$7 million. TCC is upgrading the existing rock revetment seawall at The Strand in Tauranga CBD and will build a secondary bund to provide additional protection to the CBD.
The seawall will provide necessary future coastal protection to sea-level rise and incorporate living seawall elements to promote biodiversity and provide an aesthetically pleasing area for recreational usage. To provide additional security a secondary bund will be built at the rear of Tauranga’s reserve area adjacent to the railway line to protect the high value building assets of the CBD, without impacting the visual amenity of the reserve. The location and simple form of the rear bund construction allows for easy, low cost and quick upgrading, as climate change modelling for longer term periods becomes more refined and risk levels increase.
This project is a great example of how climate change resilience projects can also promote biodiversity.