Launceston's North Bank secures $6m funding deal

Mr Nikolic said although the funding had been secured at the end of the 2013 election, the paperwork had only recently been completed.

"There are sequential issues about Boral coming off the site, and how that might work, but we've secured the money, the money is available," he said.

"We're working towards turning what is a fairly ordinary, dirty industrial site into something that is beautiful and family friendly.

"It's a project that I've been passionate about, and I'm very pleased to have delivered $6 million for that project."

The North Bank development will beautify Launceston's river edge, and work is expected to begin before the Boral relocation is completed.

City of Launceston general manager Robert Dobrzynski said the council was "delighted" to have received confirmation of the federal government's funding commitment.

"The council expects to receive the funding deed documentation in the coming weeks for execution," he said.

"Once the formal agreement has been finalised, the first construction tenders for this project will be advertised, including for the custom-designed playground components of the project.

"We are obviously eager to see that occur, both because major work on the project can get under way, and also because of the economic opportunities that will become available to local companies and service providers once those tenders are advertised."

Boral is expected to move from its site on Lindsay Street to the new site in Gleadow Street in November.