TECT Trustees are aware of the proposal by the University of Waikato to establish a campus in Durham Street and statements about a potential grant of $15 million by TECT to support this proposal.
Trustees advise that TECT has not received an application for a grant and that Trustees have not yet had the opportunity of evaluating a business case for the establishment of the campus.
Trustees would expect a business case to provide guarantees by the University around funding and student numbers, details of the courses proposed and information about how those courses will contribute to the economic development of the Western Bay of Plenty region.
If and when Trustees are satisfied that the proposal is in the interests of Consumers and merits support from TECT Trustees will seek the views of Consumers on whether Consumers agree support should be provided.
Trustees consider that if any support is to be provided it should be provided over time in a manner that does not compromise TECT’s existing distributions to Consumers.
END.