The Waitaki District Council signed the contract with contractor Apollo Projects for the construction of the Network Waitaki Events Centre yesterday.
Having both parties sign the contract means it is now officially confirmed that the project will be happening.
The next step in the process was the demolition of the grandstand at Whitestone Contracting Stadium, which was expected to happen in the next few months, a council spokesman said.
The contract is set at a fixed price of $32 million to build the centre. Work on the site is expected to begin in September. Completion is scheduled for February 2026.
Waitaki District Mayor Gary Kircher said signing the deal was a "momentous" day for the district.
"I think it’s realising the dream of a lot of people in the community to have this facility get to this point where construction will be able to start.
"We’ve got a really good contract where we’re very confident of the cost. Inflation isn’t an issue. There’s been a lot of negotiating to get to that point.
While he acknowledged there were concerns about how much the project would cause rates to rise, the council had been working hard to avoid a "budget blowout".
"There’s been so much work done to make sure that doesn’t happen.
"That’s work we’ll keep on doing to try and find as much non-rates funding as we possibly can."
Of the $15m the council had pledged, $10m of that would come from ratepayers, he said.
However, he would love to be able to reduce that number if they can find more non-rates funding, he said.
One way the council would try to reduce cost was by crushing concrete from the demolition of the grandstand that would then be reused for the base of the events centre.
Apollo Projects chief executive Peter Beggs said he loved that the project allowed Apollo to work with the community on something for the community.
"It’s an exciting combination. A lot of work has gone into it so far but working with council and the passion they’ve shown for their community has been really special for us. It’s a really special day."
Waitaki Events Centre Trust chairman Kevin Malcolm said there was still a bit of work to do.
"The contract signing is a milestone in our journey towards providing a first-class facility for Waitaki. We’d like to thank all the community for their support so far, and remind them that we still have a little way to go — even as the events centre itself begins to take shape at Centennial Park."
Fundraising would continue for the remaining $4m dollars the trust needed.
