Sent: Wednesday, May 22, 2024 3:58 PM
Subject: LGOIMA request - IAF Agreements
I refer to your LGOIMA request of 18 May 2024 regarding the IAF Funding Agreement and IAF Housing Outcomes Agreement signed in July 2022 between Kainga Ora, Watchman Capital Ltd and Rotorua District Council.
Please find below responses to your questions:
1. Are the IAF Funding Agreement and IAF Housing Outcomes Agreement signed in July 2022 between Kainga Ora, Watchman Capital Ltd & Rotorua District Council still valid?
Yes
2. If so, how many public houses built by all parties need to be completed, in order to receive a drawdown of the $85M Infastructure Acceleration Fund?
The funding is for enabling flood management/stormwater infrastructure. It is not tied to specific housing delivery.
3. How many houses built by all parties need to be completed for each stage of the drawdowns of the Infrastructure Accerlation Fund?
As above. The funding is not tied to specific housing delivery.
4. What are all the stages and drawdown dates for the IAF Fund?
As indicated in Schedule 2 of the Funding Agreement. The Agreements are best endeavour Agreements, and subsequent to the RLC Funding Agreement being signed, further early works highlighted the need to make adjustments to, for example, milestone delivery dates. All projects are still in the feasibility stage and funding will be provided as future key milestones are met and claims made. These dates are unknown at this time.
5. If the target number of houses to be built by all parties is not met, is Council still eligible for any funds from the IAF agreements?
As above. The funding is not tied to specific housing delivery.
