The council's development committee voted 14-5 yesterday to guarantee 20 per cent of the bond issue, or $6 million. The guarantee will allow community housing providers to borrow on more favourable terms, reducing the costs of homes by between $6000 and $8000....

It said it would underwrite loans to a maximum of $6 million over three years, which would allow the community housing sector to raise $30 million. Head of Community Housing Aotearoa Scott Figenshow said that extra money would come from socially responsible investors...