This option retains 300 retirement units in 8 villages. It proposes to transfer (sell) the three social villages to another entity within the social housing sector. The sale proceeds would be put towards the cost of developing 49 new units. The new development would take place on existing sites.
The four units at the Hastings/Munroe village would be demolished and 11 new units would be built. Current tenants would be rehoused. The 11 new units would be rented at full market rent. The second site, Greenmeadows East would see the development of 38 new units.
This option loses 76 houses and builds 49 new units.
This option generates an average annual deficit of $2.3 million and without any rates or increased rent adjustments the shortfall would reach $65.9 million after 25 years (2046). To cover this shortfall, an increase to rates or and increase to rent, or a combination of a rates and rent increase is required. The impacts to rates and rents are shown on the bar below. We have provided two examples of a rates/rent split – if Council selects the split option, the actual split would be based on the benefit and impacts to each party.
The current rent setting formula will have to be changed from 30% of tenant’s income to a percentage of market rent. Because this could be a significant increase for some tenants, the increase could be phased in over a number of years. Until the full increase is applied, the shortfall could be funded through loans, as outlined in Council’s Long Term Plan 2021-31.
Click on the options to fund the annualised shortfall to see how each option impacts ratepayers and tenants.
Disclaimer: Please note this interactive graphic is for demonstrative purposes only. Although the values shown are based on real figures, they have only been provided as an example to show how costs may be distributed under this option. Actual figures are subject to change.
Disclaimers and Copyright
While every endeavour has been taken by Napier City Council to ensure that the information on this website is accurate and up to date, shall not be liable for any loss suffered through the use, directly or indirectly, of information on this website. Information contained has been assembled in good faith. Some of the information available in this site is from the New Zealand Public domain and supplied by relevant government agencies. cannot accept any liability for its accuracy or content. Portions of the information and material on this site, including data, pages, documents, online graphics and images are protected by copyright, unless specifically notified to the contrary. Externally sourced information or material is copyright to the respective provider.
© Napier City Council