Mayor Boult Welcomes Infrastructure Funding Announcement
Queenstown Lakes District Mayor Jim Boult has welcomed yesterday’s announcement to consider a new infrastructure funding and financing tool.
On Thursday, Urban Development Minister Phil Twyford announced the introduction into the House of legislation to enable a new infrastructure funding and financing tool. The draft legislation could provide an additional funding mechanism beyond traditional property-based rates for high-growth councils that are facing significant infrastructure costs.
“Council is frequently faced with the challenge of funding growth-related infrastructure and traditionally that has had to be funded from rates, which continues to place the burden on our ratepayers,” said Mayor Boult.
“This Council has long sought alternative funding methods and we continue to pursue a local Bill with Central Government’s support for a local visitor levy. This new proposal from the Minister is another opportunity to speed up much-needed infrastructure.”
Mayor Boult add, “I, for one, welcome any innovative initiative that could help address the need for additional housing in the Queenstown Lakes district.”
The first reading of the Central Government’s Bill will be next Tuesday, 17 December.