How does Kāinga Ora fund its development of infrastructure projects in its Large Scale Projects and what significant changes, if any, have been made to its funding methods over the past five years?

Answer

Kāinga Ora – Homes and Communities advises me that funding from the Large Scale Projects (LSPs) comes from three primary sources: Crown funding via the Housing Acceleration Fund (HAF), Kainga Ora land sales from within the LSPs, and Contributions from Council Partners. When the LSP model was initially developed, it was expected that it could be self-funded through land sales finance. This did not work, and land sales alone could not solely fund future work. Therefore, in Budget 2021 the previous Government provided $2.3 billion for LSPs (from the $3.8 billion HAF), which was a significant change to the way the LSPs were funded.