‘An Intergenerational Decision’: Council Moves to Protect $3 Billion Fund

The Bay of Plenty Regional Council has agreed to take the next steps toward changing its investment structure to prioritise delivering community benefits and protecting its $3 billion investment fund for current and future generations.

During Long Term Plan amendment discussions, councillors acknowledged many submitters urging the Council to consider new structures to protect the investment portfolio for regional ratepayers and the wider community.

Council Chair Matemoana McDonald said the community want confidence that these funds will continue to deliver benefits for the region well into the future.

“This is an incredibly important intergenerational decision. Our community told us they want stronger protection for these assets, and we agree,” she said.

“They also told us they want these investments to deliver for the region – supporting local communities, protecting our environment, strengthening resilience, and helping us respond to challenges like climate change."

“The work now underway is about ensuring these funds remain secure, well governed, and used for the environmental outcomes they were originally intended to support.”

Bay of Plenty Regional Council Chair, Matemoana McDonald. IMAGE // Bay of Plenty Regional Council

McDonald said councils are currently operating in an environment of significant reform and increasing pressures to demonstrate value, manage costs, and deliver for growing communities are reinforcing the need for a “considered, future-focused approach”.

She said no matter what happens regarding local government reform, councillors reiterated the importance of sticking to the original intent behind the Regional Council’s investment portfolio.

Councillor Kate Graeme noted that these assets were originally allocated to maintain and improve environmental outcomes across the Bay of Plenty.  

“This purpose needs to be cemented in foundational documents such as trust deeds, so it endures beyond current local government structures and electoral cycles.”

The Council said it will continue exploring trust models, which could provide stronger long-term protection for the investment portfolio and ensure delivery of community outcomes.

Staff will now prepare an amended Long-Term Plan 2024–2034 for adoption at the end of June, which will create the framework needed for future decisions.

Council said the decisions are an important “enabling step” rather than a final outcome.

“Until any changes are confirmed, the current investment structures - held through Quayside Holdings Limited - remain unchanged.”

“This is about taking the time to get it right,” McDonald said.

“We owe it to our communities and to future generations to ensure these decisions are robust, transparent, and grounded in what matters most for the Bay of Plenty.”