So IHC subsidiary Accessible Properties New Zealand Limited, set up in 2010 with $13,850,850 share capital, was solely under control of IHC until new directors were appointed in 2013/2014.
Now they will snare the 1124 state houses in Tauranga as the preferred buyer – a private company, not a charity nor a trust nor incorporated society.
Social Housing Minster Paula Bennett has released no pertinent details about land banking, vendor (Crown) finance, leasing arrangements, safeguards so on and so forth.
What sweeteners, inducements and discounting involved with this deal is anyone's guess.
Why doesn't Housing NZ just keep trucking on because although not the greatest landlord it has some social conscience?
Can an IHC outfit that lacks experience in social rental housing do any better financially or for the tenants?
It has all the look of race-based initiatives and political expediencies with no protection for tenants, nor the Kiwi taxpayer, nor those with any social conscience about our most vulnerable citizens.
The weak vibes from local National MPs simply portray a couple of apple polishers, playing follow the leader. The devil here is in the ‘complete detail' and Kiwis have no idea and are unlikely to ever find out until it all turns to custard and that's too late.
It is worth remembering 'there is no Holy Grail in making money out of poor and disadvantaged peoples misfortune”. No guarantee however that is the case here – it has the look of a ‘kick in the guts' to it.
R Paterson, Matapihi.
2 comments
Facts not untruths
Posted on 20-08-2016 10:59 | By PragmaticMikeSays
The most "charitable" interpretation of R Paterson's misleading, untrue and plain wrong allegations is that he or she's a bit confused. In fact Accessible Properties IS a registered charity, a fact that took less than a minute to ascertain, and is New Zealand's largest non-government social housing provider. To suggest that Accessible Properties lacks experience in social rental housing is demonstrably wrong, and labelling the company "an IHC outfit" is plain nasty.Please supply evidence of what you call "race-based initiatives" - unless it's just a buzz-word you lobbed like a grenade to give your otherwise spurious speculation some spice. There is ample protection for tenants and the tax-payer, in fact professional social housing providers in NZ and Australia have shown time and again they are far better at delivering good outcomes for tenants than government agencies - and even you admit that Housing NZ is a poor landlord.
Simply Nonsense
Posted on 22-08-2016 12:47 | By R. Jones
R Patersons article is factually incorrect in its entirety and his vexatious attack on IHC totally unfounded. The suggestion that the appointment of new directors has changed or privatised Accessible Properties shareholding clearly demonstrates a lack of understanding about company matters. None of the directors are shareholders in Accessible Properties. A company search would show that Accessible Properties is not a private company but is a wholly owned subsidiary (charitable) company of IHC. Mr Paterson goes on to say that IHC lacks experience in social rental housing. However, IHC has been around for 70 years, has owned, rented and successfully managed over 1,000 social houses since the early 1980s. Maybe next time R Paterson feels compelled to write derogatory and inaccurate comments about IHC he takes the time to be more thorough in his research. R Jones, IHC CEO and AP Director.
Leave a Comment
You must be logged in to make a comment.