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How an IFF project gets underway

The SPV model can be used to fund infrastructure projects if authorised on a case-by-case basis via an Order in Council approved by Cabinet.

Developing levy proposals

Local councils, developers or any other person may propose that an infrastructure project be funded using the SPV model. The proposer of a project will need to develop a levy proposal containing information about the proposed levy and SPV.

Crown Infrastructure Partners (CIP) are acting in a facilitation role for projects that want to utilise the SPV model. CIP will assess the feasibility of potential projects and assist developers, local councils, Māori and iwi, contractors and financiers in developing levy proposals. CIP will use their commercial expertise in structuring and raising finance for projects.

Project proposers can work with CIP to develop or progress proposals and prepare them for submission to the recommender. However, proposers are not required to work with CIP to develop levy proposals and can submit levy proposals directly to the recommender.

Further information about CIP’s process for facilitating levy proposals can be found on the CIP website.

Monitoring

The Act also creates a monitoring, reporting and disclosure regime to ensure SPVs are accountable and act appropriately. HUD has been appointed as the Monitor.

Published: January 22, 2021

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