NZ Urban Development news from the media | 3 December 2024 | Government launches refreshed Public Private Partnership framework

Government launches refreshed Public Private Partnership framework

The Government has released a refreshed Public Private Partnership (PPP) framework that provides a blueprint to the market outlining how the government will approach future PPP transactions, Infrastructure Minister Chris Bishop and Parliamentary Under-Secretary Simon Court say.

“Refreshing New Zealand’s PPP model is an important part of our plan to deliver, maintain, fund, and finance infrastructure in smarter ways, and attract international capital and expertise to New Zealand projects,” Mr Bishop says.

“Considering the use of PPPs is a Government priority, and was committed to in the ACT-National Coalition Agreement. Parliamentary Under-Secretary Simon Court has been overseeing this work led by the Infrastructure Commission to bring the model up to spec to help deliver a new generation of vital infrastructure projects.

“There has been extensive engagement by the Commission with Treasury, public sector agencies, and the broader infrastructure sector. I am also pleased that Labour Spokesperson for Finance and Infrastructure Hon Barbara Edmonds has written a foreword for the document.

https://www.beehive.govt.nz/release/government-launches-refreshed-public-private-partnership-framework

Homeowners face resale tax in new-build suburbs

Homeowners buying into some of the country’s poshest developments face a tax of up to 1% when they go to resell their property.

The concept of taking a transfer levy from vendors to fund future developments is still rare in New Zealand, but agents told OneRoof they believe it will become more common in the coming years as councils pull back on funding parks and reserves.

Homeowners in Ara Hills and Kensington Park, in Ōrewa, north of Auckland, are contractually obliged to hand over some of their profits once they sell on top of an annual levy that goes towards maintaining public spaces in the developments.

Telos Group director Caleb Paterson said the idea of giving away a “considerable chunk of change” did take some getting used to.

He recently had clients looking at buying a home in Ara Hills and said the fact they would have to give 0.5% of their sale price back was initially a deterrent.

https://www.oneroof.co.nz/news/resale-tax-homeowners-in-new-neighbourhoods-face-levy-of-up-to-1-when-they-go-to-sell-46719

Retirement Villages Act: Summary of submissions now available

The Ministry has released a summary document capturing the views in over 11,000 public submissions on the discussion paper, Review of the Retirement Villages Act 2003: Options for change.
The review considers whether retirement villages legislation remains fit for purpose to ensure an effective balance between the rights and responsibilities of operators and residents, adequate consumer protections for residents and intending residents, and the sector’s ongoing viability.

In total, HUD received 11,114 submissions from a range of people and groups including, residents and their families, retirement village operators, lawyers, advocacy groups, and sector associations. 

https://www.hud.govt.nz/news/retirement-villages-act-summary-of-submissions-now-available

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