Paul Allison
The pool will be built next to the new sports facility, in the Three Parks subdivision on the outskirts of the town.
It is the 16th grant of $1 million or more the trust has approved since being established in 2000.
''The construction of a new pool in Wanaka has been a contentious issue in recent years and now that a decision has been made on its location, we are pleased to provide funding support to assist this important project become a reality,'' trust chief executive Paul Allison said in a press release.