MILLIONS: It has been proposed the council seek $19 million in funding for the Sarjeant Gallery.
Wanganui District councillors were presented with four possible options for the future of the Sarjeant Gallery at a council committee meeting yesterday.
Project managers David Boothway and Kritzo Venter made a presentation to the council's infrastructure and property committee meeting about the way forward for the gallery.
A $19.5 million redevelopment of the iconic gallery has been proposed, which would include necessary earthquake strengthening, an extension of the gallery and storage space, and environmental controls.
Funding for the project would come from a contestable fund of $8.5 million from the Ministry of Culture and Heritage, with the rest to be made up of donations, grants and fundraising.
Under the proposal, council would give $500,000 towards the redevelopment for climate control, which has been flagged in the 2012-22 10-Year Plan process.
Mr Venter outlined the four options the council could take, and some of the benefits and risks involved in each.
Option one was to do nothing. Mr Venter said the risk in this option was the potential loss of $40 million worth of assets.
"This means no earthquake strengthening, no climate control, no extension and no proper storage and art handling facilities," he said.
Option two was to do the minimum, that is, bring the building up to the required earthquake strengthening standards.
Mr Venter said this option was likely to cost about $10 million.
"In this option little funding would be able to be attracted from external sources, so most of the cost would fall to the ratepayers."
Option three was to carry out the project over seven or eight years, which Mr Venter warned could see the cost hit by inflation.
"The longer the project goes, the more likely it is that inflation will affect the cost. Over this timeframe, we think about $3.5 million."
The fourth option was to carry out the full project quickly, using bridging funding.
Mr Venter identified interest from bridging funding, and the possible inability to meet external funding targets, as its main risks.
Mr Venter said the council would not make a decision on which option to take until after some funding had been secured.