Forgiving Housing Innovation Fund Suspensory Loans and Grants

Published: 8 February 2017

Information about forgiving Housing Innovation Fund suspensory loans and conditional grants.

 

This page provides information about recent changes to the Housing Innovation Fund.

The changes aim to remove some of the financial barriers faced by community housing organisations which have already received funding through the Housing Innovation Fund and meet certain criteria.

Specifically, the changes will allow Housing New Zealand, on a case by case basis, to:

  • forgive suspensory loans and conditional grants by amending terms and conditions of the suspensory loans and conditional grants issued under the Housing Innovation Fund

  • reduce the security (priority) amount relating to suspensory loans and conditional grants issued through the Housing Innovation Fund.

 

To be eligible, organisations need to already have received financial assistance through the Housing Innovation Fund. In addition, the organisation must:

  • have completed all projects funded through the Housing Innovation Fund

  • continue to supply social and affordable housing and undertake to use the freed-up capital to grow new social and affordable housing

  • be a not-for-profit social housing provider and not a local authority

  • have social housing and social housing growth plans as a core part of its business

  • be financially viable (measured by return on equity), have strong governance and have a proven track record in the provision of social or affordable housing

  • demonstrate that in exchange for altering security arrangements, the Crown will receive value for money.

 

If you’re an organisation that has already received funding through the Housing Innovation Fund, and want to find out if you’re eligible, please take our online eligibility checklist before completing an application form.

 

For more information, see the frequently asked questions about these changes to the Housing Innovation Fund.

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