Work category 332: Property purchase – local roads
Introduction
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This work category provides for the purchase of land by Approved Organisations for new and improved roading infrastructure for local roads.
This definition applies to the 2012-15 NLTP. For the 2015-18 NLTP please refer to the updated definition for work category 332.
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Examples of qualifying activities
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Examples of qualifying activities include, but may not be limited to:
- valuation
- legal surveys
- acquisitions
- compensation.
Other potential activities not shown above should be discussed with the NZTA for eligibility.
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Exclusions
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Exclusions include:
- property purchase costs of less than $50,000 – these are to be included in the project costs conducted under the appropriate work category, and
- where an exchange of land occurs between a private landowner and an approved organisation, or where land is vested in an approved organisation by a private owner required to do so without monetary payment for the land, the transaction does not qualify for funding assistance. however, where these involve payment of land transfer fees or stamp duty, these costs can be included as acquisition costs.
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Conditions
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Conditions include:
- assistance is considered only at the time of the application for construction/ implementation funding assistance, and is based on the greater of the purchase price or current market value
- legalisation surveys, including plan fees payable to Terralink, are to be treated as part of the land acquisition cost. No other expenses involved in the legalisation process are eligible for funding assistance
- any payment for Betterment recovered in terms of section 326 of the local government act 1974 shall be a credit to the cost of the project
- all costs must be identified by project and available for audit, and
- a land plan must be available for audit purposes and must indicate the area of land to be purchased and the part that is to be converted to road reserve, with each individual property to be identified on the plan
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Funding assistance rate
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The usual funding assistance rate for this work category is:
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Last Updated: 01/09/2020 1:25pm
