A pot of gold has been placed at the end of the rainbow.

And Tauranga MP Simon Bridges believes it might be exactly what the city needs to get the museum project off the ground, or at least to find some of the millions required.

It's the Government's Regional Cultural and Heritage Fund – a new multimillion-dollar pot to support regional cultural centres like a museum. 'And Tauranga could be one step closer to finding the money needed,” says Simon.

Cost has often been put up as a block to the museum project even though 71 per cent of Tauranga respondents to a poll commissioned by the MP recently gave a resounding ‘Yes' to the plan.

Simon has been campaigning for a museum on the back of that survey.

'The main concern about the museum is the cost, but the money wouldn't just come from the council,” says Simon. 'We also need to look at ways to get the private sector involved.”

There are thousands of heritage items lying in storage at a Mount Maunganui warehouse. And the MP says those exhibits need to be on display, showcasing the city and its story.

'We have a rich and diverse history and it's a shame we are not embracing it.”

The Government's Regional Culture and Heritage Fund is a fund of last resort. Applicants like the Tauranga City Council would have to show it's prepared to put up its share – and that it's already secured funding from a 'philanthropic contribution” before the fund can contribute on 'a third plus a third plus a third” principle.

Simon believes this is something that can be achieved. 'Especially if we look at more economically viable options.” He means a realistically affordable museum.

TCC is now considering a museum as part of its Civic Space Option – a project on how best develop the CBD. A new city library and a civic square are also in the mix.

'The council will be discussing the best way forward at it's June meeting” says the TCC's general manager city transformation Jaine Lovell-Gadd. 'That could include seeking feedback on a proposal to carry out a more detailed business case on a future museum.”

And exploration of the museum option will include funding options, including the Government's new three-way funding proposal.

That's a fund which has been established to ensure the smaller regional centres get the opportunity to display their treasures, relics and artworks in new museums and galleries.

The Government has also loosened the reins – previously collections had to be of national significance to qualify for funding. That restriction has been removed. The first round of funding opened this week and the first successful applicants will be announced in August.