Not quite so generous
Re: State house spruce-up, January 4 story.
An analysis on the generosity of Kainga Ora.
In the Gisborne region it has 1249 housing units each paying on average $200 per week, or $10,000 per year. We can remove rates and insurance of approx. $3000 per year, leaving $8,743,000 in profit.
Perhaps $1.4m for repairs and improvements doesn't sound quite so generous, and with the remaining $7,343,000 they could build more housing for our homeless and over-crowded community.
I wonder where the profits are going, when the Government is forgoing a dividend.