A multimillion-dollar deal is being finalised to relocate a historical marae from the banks of the Waikato River to save it from being flooded.
Since production wells were drilled at the Ohaaki Power Station site in the Bay of Plenty 30 years ago, the ground surface around the marae has dropped by about 17 centimetres a year.
The land where Ohaaki Marae is located is projected to be under water within a decade as it drops below the river level.
Contact Energy says stopping geothermal energy production would not prevent the marae from sinking further.
A working party is finalising a land swap deal estimated at more than $6 million to save the marae.
A neighbouring farmer will also receive about $650,000 in compensation.
The deal is expected to be signed on 12 September.
