WELLINGTON: The New Zealand government will enter into a funding arrangement with local councils to offer a voluntary buyout for owners of residential properties affected by natural disasters in the cyclone and flood-affected regions in the first two months of 2023, reported Xinhua.
“From the beginning of this process, the government has supported a locally-led response to the North Island weather events as requested by councils and communities in affected regions,“ Cyclone Recovery Minister Grant Robertson said on Thursday.
The government would work with councils to help property owners build flood protection and other resilience measures, if possible, he said.
People in homes too risky to rebuild would be offered a voluntary buyout by councils, the costs of which will be shared between the government and councils, he added.
Across all regions, there will be about 700 properties that are too risky to rebuild, which will be offered a buyout by the local government, said Associate Finance Minister Michael Wood. – Bernama
