This website contains information relating to Milldale Infrastructure LP (Milldale Infrastructure) Infrastructure Payments and is relevant to people who own land or are looking to purchase land in the Milldale development at Wainui, North of Auckland.
Please see below for more information on Milldale Infrastructure Payments.
Infrastructure Payments are payable to Milldale Infrastructure by owners of properties in the Milldale Development. The Infrastructure Payments are used by Milldale Infrastructure to repay the financing it provided to Fulton Hogan Land Development for five Bulk Housing Infrastructure projects required to facilitate the Milldale Development.
A Milldale property owner’s obligation to pay the Infrastructure Payment is set out in, and secured by, a registered Encumbrance over the property owner’s land. Typically the Infrastructure Payment will be $1,000 p.a for a house and $650 p.a for an apartment (subject to a 2.5% p.a. increase) and payable for 30 years.
Infrastructure Payments will be included as a line item on your general Auckland Council rates invoice. You need to pay your Infrastructure Payments at the same time that you pay your rates and in accordance with the instructions on the Auckland Council invoice. Penalties are incurred for late payments.
More information in relation to the Infrastructure Payments, the right to prepay the Infrastructure Payments and a full explanation of the payable amounts can be found here.
A landowner’s obligation to pay the Infrastructure Payments is secured by a registered Encumbrance over the landowner’s land. A summary of the Encumbrance can be found here.
Note: The specific Encumbrance applicable to a land owner’s property may vary from this form and will contain specific details including the Infrastructure Payments applicable to that property.
Frequently Asked Questions can be found here.
Purchasers who are individuals (not companies or trusts) must send Milldale Infrastructure LP a complete, signed Purchaser Information Form if the property they are purchasing in the Milldale development is subject to an encumbrance in favour of Milldale Infrastructure LP.
The form is required in order to obtain Milldale Infrastructure LP’s consent to the transfer of the property (to an individual). It is important for a purchaser of a property, and its lenders, to ensure that this written consent is obtained as part of the sale process. It is also important for a vendor of a property to ensure that this step is completed, as the vendor can retain certain liabilities under the encumbrance, post sale, if the consent process is not duly completed.
The completed form must be sent to Milldale Infrastructure LP at the following address BHIadmin@crowninfrastructure.govt.nz. We strongly encourage purchasers to provide Milldale Infrastructure LP with the completed Purchaser Information Form 5 business days before intended settlement. This ensures that Milldale Infrastructure LP has sufficient time to provide consent prior to settlement.
Purchasers who are companies or trusts (or other entities to which disclosure would not be required under the Credit Contracts and Consumer Finance Act 2003) are not required to complete the Purchaser Information Form. Milldale Infrastructure LP consents to the transfer of any encumbered property to such purchasers for the purposes of clause 10 of the Encumbrance. Both the vendor and the purchaser of any applicable encumbered property can rely on this statement.