Cromwell's community board has approved a $125,000 grant to the Otago Goldfields Heritage Trust (OGHT), to help the trust buy the Goldfields Mining Centre in the Kawarau Gorge.
OGHT representatives presented a business plan for the purchase and operation of the mining centre to the board at a closed meeting in Cromwell this week.
Board chairman Neil Gillespie told the Otago Daily Times the board was satisfied with the trust's plan and resolved to approve the funding.
"We are happy to go ahead.
We think the proposal is a good option, and something that will have significant benefits to Cromwell and the wider area," he said.
Mr Gillespie said the business plan was confidential and not publicly available.
Last November, the board agreed in principle to allocate $125,000 to the OGHT, to help purchase the gold-mining tourist attraction near Cromwell.
Mr Gillespie said the grant was conditional on the trust developing a business plan, and securing $250,000 of additional funding from the Central Lakes Trust.
OGHT spokesman Mike Floate said the Central Lakes Trust funding had also been officially approved.
Dr Floate said negotiations regarding the sale and purchase of the centre were continuing.
The trust had hoped to take formal possession of the centre last year, after it was advertised for sale in 2007.
The complex includes heritage miners' shanties on the Clutha riverbank.
A jet-boat operation on the site is a separate entity.
OGHT members hoped the centre would eventually generate enough financial return to fund future restoration projects in the Otago goldfields.
If bought by the trust, the site may form part of its proposed Chinese gold-mining tourist trail, planned to encompass areas between Dunedin and Arrowtown.
