Building and Construction

Residential Earthquake Prone Building Financial Assistance Scheme

Led by the Minister for Building and Construction. This funding supports the remediation of multi-unit, multi-storey residential earthquake-prone buildings in high seismic risk areas through a suspensory loan scheme. It will be available to owners of such units who are in, or facing, financial hardship, where properties were purchased or acquired before 1 July 2017. ($ million)

Estimates Vol.10

Vote Building and Construction

2018/19 -

2019/20 5.400

2020/21 4.900

2021/22 1.500

2022/23 1.500

Capital 10.000

Management of Historic Places (M4) $14,364,000 ->$15,114,000

Earthquake-prone Heritage Buildings (M4) $2,870,000 2018/19 -> $6,986,000 2019/20

See p16 of attached "Vote Arts, Culture and Heritage"

Heritage New Zealand Pouhere Taonga $13,838,000 2018/19 actual -> $14,588,000 2019/20 budget (increase 5.4%)

Reasons for Change in Appropriation

The increase in this appropriation for 2019/20 is mainly a result of the new policy initiative for Heritage New Zealand Pouhere Taonga to maintain and improve heritage outcomes in the face of increasing demand for its services nationally. In addition funding is provided to Heritage New Zealand for costs associated with the acquisition and repurposing of heritage property.

Treasury Budget 2019 pages at the following link:

Summary of Initiatives in Budget 2019: