Barry Clarke, who recently became chairman of the gasworks development committee, said this week that providing a relatively modest amount of funds to strengthen the brick building was a sound investment, even in an economic downturn.
Much of Dunedin's tourism efforts had previously focused on wildlife attractions and ecotourism, but the gasworks museum was a good example of the largely untapped potential for heritage tourism, Mr Clarke said in an interview.
Gasworks project supporters said the Dunedin City Council had earmarked more than $500,000 to strengthen and restore the fitting shop building, which it owns.
Mr Clarke, who is a member and former chairman of the Otago Settlers Museum Board, said the development committee aimed to raise a further $170,000 as soon as possible to help make the fitting shop restoration a reality.
During an informal meeting of the settlers board on Wednesday, Mr Clarke outlined plans to safeguard the fitting shop, the deteriorating condition of which has been highlighted in city council reports.
Engineers advised the council in 2007 that the building was "likely to collapse" unless immediate action was taken. Mr Clarke would like to see the gasworks museum benefit from the professional museum expertise available through the settlers museum.
Elizabeth Hinds, the late former director of the settlers museum, played a major role in saving the gasworks facility from demolition.
Ann Barsby, a member of the gasworks museum trust, said a building consent had already been sought and she hoped work on the fitting shop could begin in May.
Sir Neil Cossons, a former chairman of English Heritage, a lead organisation for the historic environment in England, is a strong supporter of the Dunedin gasworks facility. He is due to speak at an Australasian Engineering Heritage Conference in Dunedin in November.
Mrs Barsby hoped the major work could be completed before Sir Neil arrived, enabling him to open the restored building.