Eastern Courier : June 24th 2011
6 EASTERN COURIER, JUNE 24, 2011 NEWS The Auckland Energy Consumer Trust (the AECT) loves to help make Auckland a great place for all. Here are just a few of the things we do. As the majority shareholder of Vector we ensure stable, local ownership and the supply of electricity to Aucklanders. As majority owner, the AECT also supports Vector's investment in leading technology for the Auckland area, like fibre to schools and smart meters. Plus let's not forget our much-loved Vector Arena. To find out more, go to www.aect.co.nz If you're an AECT beneficiary, please check your letterbox for important documents and our newsletter -- they're in the post now. AECT LOVES AUCKLAND 64A Ti Rakau Dr, Pakuranga Tel: 576 5225 Fax: 576 3451 www.lawnheat.co.nz Do you have one of these? Then you need one of these! Rinnai portable convection heaters feature a high performance fan to quickly provide an even distribution of heat to all parts of the room. An electronic thermostat will maintain the desired room temperature. An economy setting turns the heater to a lower gas consumption without affecting the desired heating levels. Portable Convector Gas Heaters OPEN 7 DAYS OPEN 7 DAYS KEEP WARM THIS WINTER Quake shakes up retirement villages ' An entire village gone and we are all saying, Gosh, what now?' ' Age Concern policy and operations manager Lisbeth Gronbaek Residents at a retirement vil- lage can rest easier after the owner moved to change policy in the wake of February s earthquake in Christchurch. Summerset Retirement Villages says it will now cover the total market value of Summerset by the Park in Flat Bush if residents were to lose their homes in a natural disaster. Its move follows concerns raised after residents at Chr- istchurch s Kate Sheppard Retirement Village were left homeless and with no claim on the insurance for their for- mer homes. The village was forced to close after the earthquake, leaving residents with refunds that in some cases were less than half the replacement value of their units. Like most retirement vil- lage residents, they bought licences to occupy their units and paid towards joint insurance. But the earthquake has triggered the same payout as if they had died or moved out voluntarily -- the original pur- chase price less the village owner s cut. For long-standing residents that amount will be much less than the current cost of their home. They cannot afford to buy other homes and have had to move in with family or friends. One industry source says the situation is a ticking time bomb . Ninety percent of village operators use the same contract with only minor variations, he says. Age Concern says thou- sands of elderly could be under threat from the same fine print that has left the Kate Sheppard residents homeless. The contracts leading to the shortfall are understood to be almost standard in retirement villages. They are based on the government s Retirement Villages Code of Practice. While the code requires complexes to be fully insured, it does not address how much residents should be paid out if they cannot be rehoused. It s totally unpre- cedented, Age Concern pol- icy and operations manager Lisbeth Gronbaek says. An entire village gone and we are all saying, Gosh, what now? This has been a terrible test of the legislation. She has urged retirement village residents to ask their owner what happens if their unit is destroyed and cannot be rebuilt. The Retirement Villages Association says it wants the problem fixed. Executive director John Collyns has had talks with senior staff at the Department of Building and Housing which administers retirement village legislation. We want a review of the code so we can make sure this is remedied. It talks about damage to individual units or parts of a village but not total destruction. Summerset chief executive Norah Barlow says Summer- set has done a full review of its own policy. In the first instance, all affected Summerset residents will be provided with accom- modation at our cost. We will then do our best to rebuild as close to the original site as possible. If that isn t possible we will pay residents the total market value of their homes at that time. In asking myself what I would do if this was my mother or father, the answer was abundantly clear. Centre's expansion What does a shopping strip look like after a $6.5 million cash injec- tion? Botany Town Centre has announced it is embarking on a multi- million dollar project to develop its Fountain Lane North precinct. Leading fashion retailers are set to move in including Country Road, Witchery, Identity, Hartleys, MAC Cosmetics and Veronika Maine. Senior centre manager Jennifer Andrews says the investment by the AMP capital property portfolio fund demonstrates confidence by their owner and the community during chal- lenging economic times. It allows us to develop a significant and highly competitive fashion run and meet the needs of our market, she says. The project is sched- uled for completion by October 20. It will add 280 square metres to the centre s retail space.
June 22nd 2011
June 29th 2011