Forgiving Housing Innovation Fund Suspensory Loans and Grants

Feb 12, 2015 | News

Did you know that Housing New Zealand Corporation is able, 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; and
  • reduce the security (priority) amount relating to suspensory loans and conditional grants issued through the Housing Innovation Fund?

To confirm your eligibility and for full details, visit http://www.hnzc.co.nz/working-with-us/housing-innovation-fund-hif. If you are a not-for-profit social housing provider with growth plans and in need of additional capital to realise your new schemes, this could assist you. Term loans are not eligible for forgiveness.

Please note that if you are successful in your application, this may mean your organisation incurs GST liability for housing development sooner than you had initially anticipated. The only exclusion to this is if the Governor General declares the loan to be excluded. It appears this is normally published by an Order in Council.

CHA wants to hear from you to understand what work we might be able to do find a sector-wide approach on the forgiveness process and on exemption from the GST liability.

If you have already or are interested in pursuing this opportunity, please contact Chris Glaudel at projects@communityhousing.org.nz as CHA wishes to support members on this activity.

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