No-one has applied for a $23 million Government loan scheme intended to help struggling apartment owners in earthquake-prone buildings, 16 months after it was launched.
But residents’ groups say the uncertainty of costs and limited criteria make the scheme impossible to access.
The Residential Earthquake-Prone Building Financial Assistance Scheme, which was launched in September 2020, has received 44 expressions of interest and zero applications to date.
This is what happens when schemes are devised by people with no actual involvement in the area they are trying to assist. Things that look useful on paper, are not in practice.