Infrastructure Funding and Financing Act 2020
The Act is a new way to fund and finance infrastructure projects that support housing and urban development.
The Infrastructure Funding and Financing Act 2020 (the Act) established a new funding and financing model to enable private capital to support the provision of new infrastructure for housing and urban development. Te Tūāpapa Kura Kāinga - Ministry of Housing and Urban Development (HUD) is responsible for administering the Act. In addition, HUD has been appointed to the roles of “recommender” and “monitor” established by the Act.
The Act provides opportunities for local councils, Māori and iwi, and developers to partner and deliver infrastructure, free of the council’s debt limits or from charging high upfront costs to developers.
New Zealand’s cities are growing fast, with housing supply and infrastructure often not keeping pace with demand. Local councils are responsible for providing water, roading and community infrastructure to support housing but often face financing constraints. This means infrastructure to support housing is often delivered on a ‘just in time’ basis or postponed – which delays the construction of new houses.
Find out more
You can read the Act on the New Zealand Legislation website.
Read the Minister for Urban Development’s Beehive press release – 24 July 2020 – announcing the passing of the Act.
For information on the policy development for the Act, see the Treasury’s information release.
For more information, please contact email@example.com.
Published: January 22, 2021