The council received the business and investment case from Hawke’s Bay Regional Investment Company (HBRIC) and will pass it to accounting firm Deloitte to consider as part of its independent review of the scheme.
Deloitte is due to report to the council in April and public consultation will take place in May before the council makes a commitment.
The business case is likely to form the basis for the council’s preferred option for the special consultation process in May.
It is likely the council will agree to invest up to $80m – a projected investment suggests $72m is the probable figure – in the scheme.
In October 2012 the council transferred its responsibilities for progressing the project to the end of the resource consent application process to HBRIC.
The council today noted its investment is essential, together with a large level of Crown Irrigation Investment money, for the project to set a water price that is financially viable for both water users and investors.
It also noted the scheme would make an important contribution to achieving its strategic environmental objectives for the Tukituki River and catchment.
Consultation timeline for Ruataniwha scheme
HBRC has set out a provisional timeline for consulting with the public about potential investment in the Ruataniwha Water Storage Scheme.
Any decision to proceed will include a special consultative process, which is the opportunity for the public to comment.
This public consultation phase will run from May 1 to June 3.
Indicative timeline:
March 26: Presentation of HBRIC business case to Hawke’s Bay Regional Council
April 9: Presentation of Nimmo-Bell Alternative Investments report to Committee
April 15: Final date for Board of Inquiry draft decisions on Plan Change 6 and RWSS resource consents
April 16: Presentation of Deloitte peer review of HBRIC business case and presentation of draft Statement of Proposal for Council to consider
April 30: Council adopts the Statement of Proposal, and Summary of Proposal, for public consultation
May 1: Public notice of Statement of Proposal, including notice of public meetings
May 5-May 30: Public meetings held throughout Hawke’s Bay
May 28: Board of Inquiry issues final decisions no later than this date
June 3: Public submissions close
June 16: Hearings held
June 25: HBRC final decision
