Punawhakaata ki Oruanui Charitable Trust 'Economic Development Project'

A Hui-a-hapu was held on 22 February 2008 which approved the starting of an Economic Development Project using part of Te Mihi geothermal resource.

The project used a team of four people to drive the project and to seek funding to cover the projects costs

In late May 2008 the WCT approved Funding of $50,000 which enabled a start on the project from 1st June 2008. The $50,000 was part of the total needed.

Punawhakaata ki Oruanui Charitable Trust was legally formed in July 2008 to provide Governance and oversight needs of the project on behalf of the Oruanui Hapu.

The main parts of the project are to:

• Produce a comprehensive list of what the geothermal hot water or steam could be used for.
• Prepare an Information Memorandum to give to potential businesses who may seek to use the geothermal resource.  This included identifying a process which attracts businesses so that they want to find out more about the opportunity of establishing businesses 'on-site' to use the geothermal resource
• A due diligence process
  

The Information Memorandum is expected to be completed, ready for distribution to prospective users, in early November 2008.