Eligibilty for HIF funding

If you can answer ‘Yes’ to all of the following questions, then you are eligible to apply for the Housing Innovation Fund.

Note: If your organisation is an iwi/Māori organisation, you may be eligible to apply for Māori Demonstration Partnership funding. See Is my organisation eligible for Māori Demonstration Partnership funding?

Is your organisation not-for-profit?
Is housing the core business of your organisation and does it have a track record of housing provision?
Do you have a project that generates a new supply of housing and meets a priority housing need?
Do you have a project that is ready to begin before 2012?
Is your organisation able to contribute 50 percent equity to the project cost?

If you answered ‘Yes’ to some of the above questions you may still qualify. Please contact the HNZC Project Manager in your area.

The following criteria apply to applications for funding.

For more information about criteria for applications for Māori Demonstration Partnerships funding, please see Māori Demonstration Partnerships - Eligibility criteria.

Applicant must be a not-for-profit organisation

A not-for-profit organisation uses any profit for charitable purposes.
Evidence an organisation is not-for-profit can be established through:
- its Constitution in the case of a limited liability company
- its Trust Deed in the case of a Charitable Trust
- its Rules in the case of an Incorporated Society
- other foundation documents.

Provision of housing is core business with a proven track record

Provision of housing must be core business for the applicant, not a by-product of other service offerings.
This may be shown by a track record of community housing provision or it may be explicit in Trust deeds or other founding documents.

Project generates a new supply of housing and meets a priority housing need

Applicants must demonstrate their project generates a new supply of affordable housing and meets a priority housing need.
New supply can include new builds or purchases or existing houses relocated onto the land.
Priorities are based on the projected demand for state housing and the Massey University Home Affordability Report.
Priority areas are Auckland, Wellington, Christchurch, Waikato, Bay of Plenty, Hawkes Bay, Nelson/Marlborough, and Queenstown.

Project ready to begin before 2012

The proposed project must be ready to commence within 12 months of obtaining funding approval.
Confirmation of project mandate and readiness, in the form of a confirmed project plan with resource consent issues resolved, is required.

50 percent equity contribution

Organisations will be expected to provide a minimum of 50 percent equity contribution to the project.
The contribution must include an unencumbered amount equal to a minimum of 15% of the project cost. The 15% contribution must be the applicant’s own equity (i.e. not lending from another entity or other government funding) and can be way of cash, land and value-in-kind.
Examples of value-in-kind could include donated materials or donated labour. The maximum permitted donated labour value-in-kind contribution is 10% of the total project cost.
Organisations who are unable to provide the 50 percent equity but meet all other criteria should discuss their project with the Corporation.