Why do TCC staff and consultants think ratepayers should gift $27m to property investors?

In the current Long Term Plan TCC staff and consultants recommend the sale of 246 council homes for $23m – less than half their $50m+ value.

They recommend selling to Community Housing Providers and converting them to general social housing.

CHPs get subsidies from central government to house people approved by the Ministry of Social Development. The tenant contributes 25 per cent of their income and MSD top-up this amount to ensure the CHP receives a fair market rent.

So if the CHP gets fair market rent why are we, the ratepayer, being asked to subsidise this process? It makes no sense.

These are fantastic community assets. The council gets a handsome return on their $5m original investment and thousands of older and poorer people have had safe, dry homes.

CHPs recently purchased 1100 homes in the BOP from Housing NZ as part of the now defunct Social Housing Reform of the National government

Let's wait a few years and see how the Housing NZ sale develops for our community instead of doubling down early and cheaply flicking off the rest of our community homes.

A Elisara, Mount Maunganui.