Auckland City Council
Media release

5 February 2009

Reduced housing programme agreed

Following a council decision in December 2007 to renegotiate the scope of an assisted home ownership programme with the New Zealand Housing Foundation (NZHF), an agreement has been reached between the council and NZHF trustees.

The scope of the programme has been reduced from the previous council’s original agreement with NZHF of $9m over ten years. Under the new agreement, the council will contribute $3.8m towards the provision of 30 homes over the next three years.

Councillor Paul Goldsmith, chairperson of the Community Services Committee, says the council is glad to have reached a practical agreement on the new programme.

“This is a relatively small, one-off initiative to help address the very difficult and complex issue of housing affordability. We note also that the Government’s recently announced initiatives aimed at improving housing affordability, including reforms of the Resource Management Act and the Building Act, offer the best prospects for progress on the issue,” says Mr Goldsmith.

Ken Stevenson, NZHF Trust chairman, says the programme, while on a smaller scale than originally intended, will demonstrate the delivery of affordable housing options for first home buyers who work in the Auckland City Council area, and need assistance to get into their own home.

“NZHF is at the forefront of efforts to address the affordability issue and already has housing projects underway in west and south Auckland. We are pleased to partner with Auckland City Council in this exciting initiative.”

NZHF will meet a number of programme milestones to receive the funding, which is from a council targeted rate already collected for affordable housing.

The location of the 30 homes is yet to be determined. NZHF will cover all development, construction and acquisition costs, and will be responsible for identifying eligible candidates and managing the programme.

Members of the public wanting to register their interest in taking part in the assisted home ownership programme can visit the NZHF website at www.housingfoundation.co.nz

ENDS.

© Scoop Media