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Wellington City Council on the Right Path
Media Release
7 December 2013
Wellington City Council on the Right Path
Property Council applauds Wellington City Council’s efforts to remove barriers to development and business growth in the Capital in two new proposals.
The council is making a concerted effort towards addressing the challenges faced by owners of low seismic rated buildings and incentivising sustainability in design and operation of buildings.
The proposals suggests removing unnecessary process costs by:
• Shifting the payment of a development contribution from the front end of the development to when the property is actually occupied or sold.
• A 50% reduction in DCs for significant ‘green’ rated developments.
• Exemption from the Downtown Levy and also from the commercial sector targeted rates – totalling around 25% of rates relief during construction.
Property Council Wellington branch
president, Andrew Hay, says he is delighted with the new
development contribution proposals which will also help
address the forever present problem of housing
affordability.
“What we are seeing is a sensible approach towards development contributions and recognising the additional rateable and economic value created by new development activity.”
Under the council’s sustainability proposal, developers of ‘Green’ rated buildings would see significant changes to costs helping promote and incentivise construction of green buildings. The seismic strengthening incentives will provide greater ability, in terms of affordability, to strengthen quake-prone buildings.
Levies of all types would be reduced by around 20 per cent, including the removal of reserve contributions from commercial development – which would cut up-front costs of new-builds.
“We are working with Wellington City Council and will continue to achieve good results towards our aligned goals,” says Mr Hay. “Both Property Council and Wellington City Council want Wellington to prosper and grow through encouraging development, sustainability and resilient buildings – in an appropriate and economically feasible way.”
END
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