Assisted home ownership
Auckland City Council is renegotiating the scope of an assisted home
ownership programme with the New Zealand Housing Foundation, a charitable trust.
The previous council resolved to spend $9 million in a programme with the New
Zealand Housing Foundation to subsidise up to around 100 houses in Auckland
city.
In October 2007, council lawyers advised that a change to New Zealand Housing
Foundation's trust arrangements meant that council could revisit the project.
The new council and trustees of New Zealand Housing Foundation have reached an
amicable settlement to negotiate a scaled back programme.
Auckland City Council will allocate the targeted rate already collected for
affordable housing towards the revised programme.
Updated April 2008
