Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Infrastructure Acceleration Fund Opening For Business

· Contestable funding criteria established for new housing infrastructure

· Invitation for expressions of interest from local councils, iwi and developers released on 30 June

Criteria to access at least $1 billion of the $3.8 billion Housing Acceleration Fund (HAF), announced in March, is now available, and an invitation for expressions of interest will be released on 30 June, Housing Minister Megan Woods has announced.

“This is a key milestone in our plan to accelerate the development of build ready land to enable more homes to be built at pace and scale,” Megan Woods said.

“The housing supply crisis is a problem decades in the making that will take time to turn around, but we are starting to make inroads on increasing supply and this fund will make a real difference to increasing the supply of housing by assisting in overcoming a key barrier to building – access to basic infrastructure.

“Investment in infrastructure was identified by local councils and others as one of the key actions the Government can take to increase the supply of housing in the short term.

“The Infrastructure Acceleration Fund is designed to allocate funding to infrastructure projects that will unlock housing development in the short to medium-term.

“It will jump-start housing developments by funding necessary services, like roads and pipes to homes, which are currently holding up development.

“This is about getting the most houses in the places across the country, where they are needed, happening as quickly as possible.

“It is available to councils, iwi and developers to start pitching for infrastructure funding, with successful projects weighted toward bringing on multiple, affordable new homes quickly and in the right places; in urban centres as well as in the regions,” Megan Woods said.

Eligible projects include the new or upgrading of infrastructure for drinking water, waste water, sewage, roading, and flood management, which wholly or primarily enable the building of new and additional homes. Eligible costs include early stage feasibility studies, design, consenting and in some cases land costs.

The IAF will be opened up to councils, Iwi and developers and will prioritise funding for:

· Brownfield intensification and greenfield expansion with access to amenities and opportunities

· Developments where infrastructure investments might otherwise not be funded or not funded quickly enough to meet housing demand

· A spread of projects across multiple regions including large urban areas and regional centres

· Value for money through co-funding, contributions and commitments from third parties, including local councils

· A steady pipeline of construction activity

· Alignment with wider government objectives such as good urban planning, partnerships with iwi and Māori and transition to a net zero emissions economy.

In major urban environments (Tier 1) such as Auckland, Tauranga, Wellington and Christchurch, projects will be expected to deliver at least 200 additional homes.

In other urban centres (Tier 2) such as Rotorua, Palmerston North and Nelson, projects will be expected to deliver at least 100 additional homes. In other areas of the country, projects should result in at least 30 new homes.

“Not every application will be funded; we have weighted the fund to support projects that will deliver the most houses where they are most needed,” Megan Woods said.

“In order to bring on significant new supply we need to fund larger scale projects in large urban areas, as well as smaller scale projects outside of the main centres, where there is also a housing shortage.

“We’ve been proactively working with Local Government New Zealand since the March announcement to identify these smaller scale opportunities. We know that the housing crisis is being felt right across New Zealand.

“Final decisions are yet to be made on how the full Housing Acceleration Fund (which has already ring fenced $350 million for a Māori Infrastructure Fund) will be used, and we’ll also be looking at how to best build upon what we’ve started in our Large Scale Projects, which are already transforming the urban environment.

“Together with the new $2 billion borrowing capacity for Kāinga Ora, central Government will help green light tens of thousands of house builds,” Megan Woods said.

Further decisions on the Fund will be made throughout the year.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Geo-political Posturing Over China’s Cyber Hacks, Plus The Weekly Playlist

The timing was one of the weirder aspects of this week’s cyber condemnation of China by the West. Why was this piece of political theatre being staged now? China (and Russia’s) sponsoring and/or condoning of semi-state and criminal hacker groups has been known about for nigh on a decade. More particularly, Microsoft had been alerted to the flaws in its Microsoft Exchange... More>>




 
 

Government: Cabinet Accepts Turkish Authorities’ Request For The Managed Return Of Three NZ Citizens

Cabinet has agreed to the managed return of a New Zealand citizen and her two young children from Turkey, Prime Minister Jacinda Ardern announced today. The three have been in immigration detention in Turkey since crossing the border from Syria earlier this year... More>>

ALSO:

Government: Quarantine Free Travel With Australia Suspended

Quarantine Free Travel from all Australian states and territories to New Zealand is being suspended as the Covid situation there worsens, Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins announced today... More>>

ALSO:


Government: New Zealand Condemns Malicious Cyber Activity By Chinese State-sponsored Actors

New Zealand has established links between Chinese state-sponsored actors known as Advanced Persistent Threat 40 (APT40) and malicious cyber activity in New Zealand. “The GCSB has worked through a robust technical attribution process in relation to this activity. New Zealand is today joining other countries in strongly condemning this malicious activity... More>>

ALSO:



NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>



Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels