Cancellation of the Residential Earthquake-prone Building Financial Assistance Scheme (the Scheme) & Building Support Service Pilot

Unfortunately, as part of the announcement of the earthquake-prone building system review, the Residential Earthquake-prone Building Financial Assistance Scheme (the Scheme) was stopped immediately and the Building Support Service Pilot will stop from 14 June and be closed by 30 June 2024.  In ICW's briefing to the Minister in Dec 2023, we  called for both these services to carry on (in the assumption of a review being initiated) to enable owners to progress if they chose to. 

ICW has written to the Minister to get an opportunity to discuss options to address the impacts of cancelling the scheme on strengthening projects that are ready to proceed but require the scheme for some owners to do so. We have not received any response to our approach so far. Owners in this situation may wish to write to the Minister outlining the impacts of cancelling the scheme for you. Minister Penk has said the need for a financial assistance scheme would be included in the scope of the review.   I was on the Advisory Group for the Building Support Service Pilot and the challenges faced by apartment owners to progress these projects was very evident and will still provide useful information on what implementation frameworks must be in place for any system.