Catherine Stewart Tauranga City Councillor

This week Tauranga City Council received good news from the New Zealand Transport Agency.

The council's $63 million debt associated with Route K will be transferred to the NZTA on June 30, 2015.

This is good news indeed and something some councillors have been advocating for many years.

The reduction in TCC's debt should result in an improved credit rating, which will have a positive flow on effect of reducing council's interest rates on borrowings.

The challenges ahead

As elected members head in to the Long Term 10-year Plan we need to be mindful of increasing debt commitments, with projects such as the Southern Pipeline, city-wide stormwater improvements, Greerton Library, Marine Precinct and many roading projects TCC is required to fund, so they can link up with the Tauranga Eastern Arterial Link.