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. See “Infrastructure Payment Details” below for more detail.
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 rates 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 landowner’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.
TRANSFERS OF PROPERTIES SUBJECT TO ENCUMBRANCES
Clause 10 of each Encumbrance provides that the relevant property cannot be transferred without the prior consent of Milldale Infrastructure, unless Milldale Infrastructure confirms that this transfer restriction no longer applies.
As from 9 June 2020, and for as long as this statement is included on this website, Milldale Infrastructure confirms (for the purposes of clauses 10 and 12 of the Encumbrance) that the restrictions on transfer set out in clause 10 of the Encumbrance will not apply.
CREDIT CONTRACTS REGULATION
On 9 June 2020 Minister of Commerce and Consumer Affairs, Kris Faafoi, granted the Credit Contracts and Consumer Finance (Crown Infrastructure Partners Limited – Milldale Development) Declaration 2020. This declaration came into force on 15 June 2020, and declares that the Encumbrance is not a credit contract for the purposes of the Credit Contracts and Consumer Finance Act 2003. This means that purchasers no longer require Milldale Infrastructure LP’s consent to transfer any encumbered property for the purposes of clause 10 of the Encumbrance. This also removes the need to provide the previously required Purchaser Information Form. Both the vendor and the purchaser of any applicable encumbered property can rely on this statement.