### ODT Online Thu, 26 Jan 2012
New rate to fund strengthening
By David Loughrey
The Dunedin City Council gave approval for a second “targeted rate” system to improve city buildings yesterday when it voted for a scheme to help fund earthquake-strengthening for heritage building owners. That followed a decision on Tuesday to back a similar scheme to fund insulation and clean heating for residential buildings.
The voluntary targeted rates schemes work by providing finance to ratepayers – in this case to complete earthquake-strengthening – with the cost to be paid off through rates over a specified period.
• There would be about $500,000 available in the first year.
• Applications would be considered by the four city councillors on the Dunedin Heritage Fund, and three New Zealand Historic Places Trust representatives, with a final decision by the council finance, strategy and development committee.
Posted by Elizabeth Kerr