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Purpose of Report

1. From 1 December 2012 the Treasury took over the monitoring responsibilities for Housing New Zealand Corporation (HNZC) and the Tāmaki Redevelopment Company (TRC). As part of the shift in function to Treasury, the Minister of Finance requested that Treasury undertake a more 'active' role in monitoring the Crown's ownership interest in these entities.

2. This report outlines how Treasury intends to undertake the monitoring function, relevant background information on the entities, and high-level matters of interest relating to the Crown's ownership of HNZC and TRC. There will be more detailed issues related to HNZC that you may be interested in and we can follow these up with you.

3. Your primary relationship in the Housing Portfolio will be with the Ministry of Business, Innovation and Employment (MBIE), which is providing a briefing on the other parts of the portfolio. We are working collaboratively with MBIE as part of the officials group on the Social Housing Reform Programme (SHRP) and are co-leading with MBIE on housing affordability.

4. We are keen to meet with you to discuss how we can best meet your needs as one of the Responsible Ministers for HNZC and TRC. A list of upcoming deliverables and suggested meetings is attached as Appendix 1.

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