This page relates to the 2018-21 National Land Transport Programme.
In special circumstances Waka Kotahi NZ Transport Agency may decide to enter into funding assistance rate (FAR) adjustment and front-loading arrangements with approved organisations, for cash-flow management or optimisation purposes.
FAR adjustment is an arrangement where the approved organisation undertakes to deliver an activity at a lower than normal FAR initially and then Waka Kotahi funds at a higher FAR later on. The arrangement may be triggered by a shortfall in National Land Transport Fund (NLTF) cash-flow, eg due to revenue being lower than forecast, or may arise from an approved organisation's desire to deliver an activity at a faster rate than Waka Kotahi can fund from the NLTF.
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Front-loading is an arrangement whereby Waka Kotahi funds an activity at a higher than normal FAR initially and then the approved organisation accepts a lower than normal FAR later on. The trigger for the arrangement may be the ability of the approved organisation to raise sufficient local share in the short term to deliver an activity in a time frame that it and Waka Kotahi consider desirable.
CloseA range of criteria are required to be met to enable Waka Kotahi to enter into either FAR adjustment or front-loading arrangements.
The following criteria are required to be met to enable Waka Kotahi to enter into either FAR adjustment or front-loading arrangements: