Mayors and Heritage advocates urge the Government to reinstate Heritage Equip

Heritage Equip was a Government Fund that supported earthquake strengthening of privately owned commercial heritage buildings. Grants could be made up to 50% of the earthquake strengthening fees and costs.The fund was introduced by the former National Government as a response to the new Earthquake strengthening regulations, with the expectation to assist building owners over the economic hurdle of strengthening and further upgrades required to comply with current Building Act codes.

The Fund has been successfully rolled-out around New Zealand and an excellent example can be found in Whanganui. One derelict building was fully restored, with 8 apartments incorporated and is fully tenanted. The Government would have received full recompense for their investment via gst paid on all aspects of the restoration, plus ongoing income tax on the profits from the 8 apartments. In addition, eight desperately needed apartments were created and a key building in the town centre restored, creating town centre vibrancy. It’s a win/win for everyone.

Mayors throughout provincial New Zealand, fully support the Fund as they grapple with vibrancy in small towns, where the economics of restoring heritage buildings is challenging. Whanganui’s Deputy Mayor and Chair of the Whanganui Regional Heritage Trust, Helen Craig says “this is a valuable fund, with practically no cost or risk to the Government, but with huge reward for everyone - it’s an investment in our future. Mayors throughout our region recently met and expressed a desperate need to reinstate this Fund” says Helen.

"The Heritage Equip Fund could easily be reinstated by the current Government in the next Budget, and it makes total economic, cultural and social sense for this to be done" says Historic Places Aotearoa (HPA) President Elizabeth Pishief. HPA is the national independent heritage advocacy organisation representing heritage organisations throughout New Zealand. "The Heritage Equip Fund would have the most significant impact on saving New Zealand’s unique heritage whilst also providing much needed housing."

For details of the Fund, see: heritageequip.govt.nz, contact Helen Craig 021 103 0737.