One of Tauranga's 'most important heritage sites” is set to receive $200,000 worth of financial support per year to ensure it keeps its doors open.

The decision comes after The Elms Foundation sought assistance from Tauranga City Council during this month's Long Term Plan submission process after losing funding and services from Tauranga Charitable Trust.

The Elms, on Mission Street in Tauranga. Photo: File.

It was outlined by trustees chair Norah Reid that all cash reserves would be depleted by mid-2015 after being supported by the Tauranga Charitable Trust since they bought the property off the Maxwell family in 1998.

The site on Mission Street is one of the most historic sites in New Zealand and has a living history of early Tauranga, with no payments made to trustees, accountancy staff, the 47 guides, consultants or the active gardening team.

Tauranga Mayor Stuart Crosby says councillors see The Elms as one of the city's most important heritage sites and it can't be left to go backwards.

It is recommended that council approve the $200,000 per annum to The Elms Foundation to ensure ongoing protection and operation of the heritage site.

Council will also look to work with the foundation to identify options for achieving ongoing sustainability in terms of operating costs and funding.

Other options include a one-off contribution, either $200,000 or an increase or decrease of this figure, and working alongside the foundation to discuss long-term funding and expenditure.

The other direction would be to decline the request based on significant funding provided by council in the past.

The Elms Trust's asset base has grown from the initial $1.5 million to around $9 million, including the acquisition of neighbouring properties, with no debt. It is completely freehold.

The Mission House itself has recently undergone extensive restoration and repair, with floor boards replaced on both levels, windows restored and repaired and the house repainted.

The Elms will also be seeking capital funding from the broader community and other sources to upgrade facilities such as toilets, communications and signage.

The Elms funding assistance decision will be held at 3pm next Wednesday (June 3) in council chambers as part of the three-day long LTP deliberations.