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Hamilton Gardens is one of our city’s biggest success stories - read about what's coming next.
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Adjustment Mechanism for Financial Contributions in the Hamilton City District Plan (bold title)
This was a Plan Change to the Transitional District Plan (TDP) and a Variation to the Proposed District Plan (PDP).
Both the TDP and the PDP utilised the Cost Construction Index (CCI) as a method for adjusting base levy figures for financial contributions. The levels were adjusted on an annual basis to take into account changes in the actual costs of works to be undertaken.
Publication of the CCI ceased and the proposed Plan Change and Variation were prepared to address the need for a replacement index to take over from the CCI. The Variation recommended utilising the Statistics New Zealand Producer Price Index for Construction (PPI-construction) as a replacement index.
At its meeting on 6 August 2003 Council resolved to accept Variation No.2, which now forms part of the PDP, and Plan Change 40, which is now operative.