Historic Places Aotearoa (HPA) applauds the Government for including depreciation of earthquake strengthening in its
COVID-19 stimulation packages, and providing real incentives for commercial heritage building owners.
HPA President James Blackburne said this initiative would be welcomed by commercial heritage building owners facing the
burden of earthquake strengthening.
"The depreciation rate of two percent diminishing value is a good first step. We are looking forward to the Government's
new heritage initiatives.
"Work on heritage buildings can be quickly made ‘shovel ready’ and this applies to strengthening. This meets the
Government’s intention in their Stimulus Bills.”
Mr Blackburne commended Minister Grant Robertson for acting on the Cullen Tax Working Group's recommendation, and the
Opposition's Paul Goldsmith for supporting the Bill.
Whanganui District Council councillor Helen Craig welcomed the changes, which the council and local heritage
organisations had lobbied long and hard for, due to the city’s significant heritage town centre.
“A full range of incentives are needed to support heritage building redevelopment due to high costs versus the value of
buildings, especially in provincial New Zealand.
“New Zealanders value their heritage but it's rapidly deteriorating and at risk due to age, changing demand and use for
inner city spaces, and earthquake strengthening requirements."
Heritage restoration advocate Dame Anna Crighton concurred.
"As chair of a heritage trust restoring two commercial heritage buildings, I can state the changes to depreciation is a
prudent and worthwhile practical help.
"Depreciated strengthening supports the ‘adaptive reuse’ of heritage buildings. We can look forward to seeing vibrant
heritage buildings in our cities and provincial main streets."