Partners Wanted To Secure Share Of $1 Bn Infrastructure Fund
Timaru District Council is on the search for local industry partners so it doesn’t miss out on a share of a $1 billion government infrastructure investment.
The funding comes as a part of a government programme to address housing affordability issues throughout New Zealand by helping fund the infrastructure required to drive development.
The programme is part of the $3.8 billion Housing Acceleration Fund, which includes the Kāinga Ora Land Programme, Infrastructure Fund and changes to the Land for Housing Programme.
The Infrastructure Acceleration Fund is a $1 billion infrastructure investment to support housing supply where infrastructure providers face funding and finance barriers.
The funding programme aligns with Timaru District Council’s commitment to enable sustainable, appropriate growth and development that will support the wellbeing of the district and our communities.
It is aimed at removing some of the underlying barriers to supply by opening up more land for housing development, particularly in locations close to jobs and amenities; helping to fund the critical infrastructure needed for that development and allowing for a wider mix of housing that is affordable for low to moderate-income households to own or rent; and freeing up development-ready land and accelerating housing development to moderate growth in house and land prices.
Timaru District Council Environmental Services Group Manager, Paul Cooper said that with the right partnerships in place, the fund could provide a significant boost to affordable housing in the district.
“Through this programme we have the opportunity to gain significant government funding to bring forward development, but this needs to be done in partnership with the local industry,” he said.
“We need the industry to propose areas that could be developed, if appropriately zoned and serviced, to deliver at least 30 affordable houses.
“Major external funding sources such as this don’t come very often, and we don’t want our district to miss out on this opportunity so we’re asking people to get in touch with their ideas.”
Any party may express interest in submitting a joint application for the fund with Council.
Expressions of interest for a joint application must be submitted to Council via email by July 26. Council will evaluate each applicant over the 27th – 29th, notifying the successful party or parties on July 30.
The successful party will then work in partnership with TDC to submit a joint expression of interest to Kāinga Ora for the Infrastructure Acceleration Fund.
For more information visit about the scheme and for details of how to apply visit: www.timaru.govt.nz/IAF