The $350,000 fundraising campaign, launched by the Timaru Host Lions in July last year, aims to re-home the piece of maritime history in a new shelter so it can be observed and preserved.
The lifeboat is primarily remembered for its use during the infamous "Black Sunday" wrecks in 1882, when a strong southeasterly gale broke the anchorages of Benvenue and City of Perth and swept them towards the Benvenue Cliffs.
Timaru Host Lions president Russell Cowles said they were waiting on a couple of final grants to get them over the line.
"We’ve just put in for those but won’t find out if we’ve got them until April, but being on the positive side and I am pretty positive that by the end of April we should have the green light to start.
"It’s going to be done this year, I’m positive of it."
He said it had been quite tricky to raise to funds.
"South Canterbury has been hit with a lot of projects in the last few years, especially with the likes of CPlay and Fraser Park.
"The majority of it has been coming through grants, though, to be honest."
"We’ve also had great support from the other Lions Clubs in the area.
"So between the Lions and the Lloyd Morgan Charitable Trust, which is part of the Lions, we will have put about of third of the money ourselves."
One donation Mr Cowles especially wished to highlight was from 94-year-old Patrick Schaab, a resident at Elloughton Gardens.
Mr Schaab is the last remaining grandchild of Anton Schaab who worked as a boatman for the port of Timaru and was involved with many shipwrecks including those on "Black Sunday".
A newspaper report from November 26 1906 said Anton Schaab played a big role in directing the rescue operations during "Black Sunday".
"When the City of Perth and the Benvenue went ashore, for he it was who had charge of the lifeboat, and who directed the operations of those who so bravely risked their lives in saving others."
Mr Schaab’s nephew Mark Veitch — who made the donation on his behalf — said his uncle had been very pleased to hear about the project.
"I told Pat of the work being done to re-house the lifeboat and the fundraising opportunity for people to help.
"Pat was thrilled to hear of this work and asked me to make a donation to the value of $2500."
Mr Cowles said he was looking forward to completing the project.
"It was our major project, and we’ll carry on now with our other fundraising, which includes our compost and the train, which has been a particularly good one over the last year.
"It was well up on previous years.
"On top of the lifeboat project, we probably gave out about $15,000 to local charitable trusts and charities."
