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Details of the housing infrastructure fund

NZ NewswireNZ Newswire 3/07/2016

WHAT THE GOVERNMENT'S $1 BILLION HOUSING INFRASTRUCTURE FUND IS ALL ABOUT

* It will be used to put in roads, water supplies and other infrastructure needed before homes can be built, removing a key barrier to development.

* It will be open to councils in Auckland, Hamilton, Tauranga, Christchurch and Queenstown which have high population growths.

* It isn't a handout - councils will have to pay it back when people move into houses and start paying rates.

* The government will borrow the $1 billion but the interest won't be passed on the councils.

* To access the fund, councils will have to outline how many new houses will be built, where and when.

* Councils have been consulted and Housing Minister Nick Smith says they're enthusiastic about it.

* The government doesn't have firm figures on how many new homes it will help provide but Prime Minister John Key says it's "nearer to tens of thousands".

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