Are owners of buildings determined to be earthquake-prone facing mandatory seismic strengthening under the revised earthquake-prone building system, and if so, has he held any discussions on whether these owners could benefit from a similar approach to the funding model used for the Te Awa Lakes development?

Answer

Under the Building (Earthquake-prone Buildings) Amendment Bill, currently before the Transport and Infrastructure Committee, a more targeted group of buildings will continue to require remediation due to the life-safety risk that they pose. Many owners of these buildings will benefit from the new tiered remediation requirements and will also be able to apply for deadline extensions of up to 15 years. I have not held discussions in relation to the funding model used for the Te Awa Lakes development, although additional options to support the remaining building owners who still face large remediation costs are being considered.