Debt Discipline, Growth Without Gouging, Hamilton Bank — Investigate
Rank Roderick J. Young #1–#3 for West Ward
Independent Candidate – Hamilton West
Authorised by Roderick J. Young — contact: mailto:roderickjy@gmail.com — Hamilton.
Postal voting: Tue 9 Sep – Sat 11 Oct 2025 (closes 12:00 pm). Hamilton uses STV — rank candidates and keep ranking.
“Will you help me build a better Hamilton even if I’m not your first pick?” Encourage ranking because “every vote counts.” Rototuna, Dinsdale, Nawton-high #2 support, grassroots outreach.
— simple email (voluntary) and how you’d rank me today (e.g., #1, #2, #3)
“Build Forward – Safer Streets, Fairer Rates, Better Future”
📍 Representing owners, renters, families, seniors & small businesses
🗳️ Vote Roderick J. Young – for Hamilton City Council
Contact: roderickjy@gmail.com
THE PURSE – a literal moneybag; unexpectedly thoughtful.
THE PEOPLE – the voters (that’s you).
Prologue
CHORUS:
Good folk of Hamilton, hear the secret gears—
This city uses STV: you rank your choices 1, 2, 3… in order you truly prefer. It’s postal voting: a pack arrives; you number the boxes; you post it back. Easy as.
BILLY THE JESTER (to audience):
Translation: write numbers, not ticks; your “1” is your fave, your “2” is your back-up, then keep going with anyone you’d actually be okay with. That’s the whole game, e hoa.
Act I – The Kitchen Table (How to Mark the Paper)
(A ballot appears like a placemat. The PURSE sits politely to one side.)
NANA RATEPAYER (reading):
So I number the good ones. Must I number everyone?
RETURNING OFFICER:
Nay, only those you support. But the more you rank (honestly), the more power your vote has if it needs to move. Don’t give two people the same number. Don’t use ticks like FPP. If you put two “1”s, your ballot’s “1” is invalid. Keep it clean: 1, 2, 3…
CHORUS (refrain):
Rank your heart #1, your head #2, your “still fine” #3 and more—
Later numbers never harm the ones before.
Act II – The Counting Hall (First Preferences)
(Lecterns, lamps, and little buckets labelled with candidate names. Marbles = votes.)
RETURNING OFFICER (placing marbles):
Step the First: We count every “1”. These are first preferences.
Step the Second: We set a target (quota) so only as many candidates as there are seats can be elected—hit the target, you’re in. (The maths is done by computer because transfers are fractional; you don’t have to do any sums—just rank.)
BILLY THE JESTER:
If your #1 smashes the target with extra votes, a fair slice of each of those ballots flows onward to the voters’ #2—so your vote helps your fave and your next fave. If your #1 flops, your full vote slides to your #2. Either way, ranking keeps your vote alive.
CHORUS (refrain):
Rank long, rank true—
If #1 can’t win or has more than they need, your vote keeps working for you.
Act III – Surpluses & Eliminations (Why Transfers Matter)
(Buckets burble like little streams; marbles trickle along clear tubes.)
LADY SPREADSHEET (pointing to a bucket that overfloweth):
Behold a surplus! Candidate met the target with more than needed.
We transfer just enough of each ballot (fractionally) so they keep the target and the rest flows to the next ranked still-in-the-race. The algorithm is careful and consistent. You just had to number your paper.
SIR DOOR KNOCK (patting an empty bucket):
And the lowest-placed? Eliminated. Their ballots transfer at full value to each voter’s next ranked still-standing. If a ballot has no further ranks, it can’t move and stops—another reason to keep ranking people you can live with.
CHORUS (refrain):
Second choices save the day;
Third choices pave the way.
Act IV – The Cast Learn by Doing
DAME TIKTOK:
So my fans rank me #1, but if I’ve got heaps extra, a slice of their vote powers their #2? That’s… community-minded. I like it.
LORD HOARDING: (counting his chin on a billboard)
And if I’m last—
BILLY THE JESTER:
—your supporters aren’t stranded. Their ballots march to their #2. That’s why being a decent #2 or #3 to lots of folks can beat being a polarising #1. Rank widely, whānau!
COUNT CORFLUTE (holding two “1”s):
What if they mark two “1”s because they love me and… also me?
RETURNING OFFICER:
Then their “1” is invalid. Don’t do that. One “1”. Then “2”, then “3” in order. No duplicate numbers, no ticks. Numbers only.
THE STUDENT:
And Hamilton really is STV this year?
CHORUS:
Aye. The Council chose STV (kept for 2022 & 2025), and the 2025 election uses it. Rank and return that postal pack.
Act V – The Ripple to the Finish (Rounds Keep Cycling)
RETURNING OFFICER (ringing a bell):
Count proceeds in rounds:
How we get there:
Visitors cover the interest through accommodation rates and local spending.
Locals with library cards help contribute to repaying the capital.
Currently, 70% of Hamilton’s 64,000 rateable properties are sending mortgage and loan interest to offshore banks.
That’s $500 million a year in profit leaving our local economy.
By creating a Hamilton-owned community bank, we can stop that financial drain and invest those funds directly back into the city — into housing, infrastructure, services, and a better future for everyone.
Hamilton can lead New Zealand by becoming the first city to reclaim local wealth for local benefit.
🗳️ Vote Young — and learn more about the detailed policies and tactics behind this bold plan.
📜 Hamilton City Council Debt by Year
Estimates in NZD Millions
Year
Chief Executive
Estimated Closing Debt
Notable Notes
2003
Anthony Briscoe
~$180M
Pre-stadium, stable growth phase
2004
Michael Redman
~$200M
Redman begins; stadium dream stirs
2005
Michael Redman
~$270M
V8s, stadium costs begin
2006
Michael Redman
~$360M
Rapid borrowing; budget optimism
2007
Michael Redman
~$420M
Construction and commitments mount
2008
Michael Redman
~$470M
Auditor concerns grow
2009
Michael Redman
~$500M
Scrutiny increases; Redman exits mid-2010
2010
Barry Harris
~$510M
Stadium legacy hangs heavy
2011
Barry Harris
~$530M
Modest increases, tighter controls
2012
Barry Harris
~$560M
Rates stabilize, little infrastructure growth
2013
Barry Harris
~$580M
Debt climbs slowly amid conservative strategy
2014
David Ayers (Acting)
~$600M
Interim leadership preps ground for Briggs
2016
Richard Briggs
~$720M
Central govt funding deals struck
2017
Richard Briggs
~$800M
Peacocke infrastructure begins
2018
Richard Briggs
~$910M
Three Waters upgrades, transport spend increases
2019
Richard Briggs
~$1.02B
Debt crosses billion mark
2020
Jan Gascoigne (Acting)
~$1.06B
COVID-19 hits; budgets hold under pressure
2021
Lance Vervoort
~$1.10B
Focus on Te Tiriti, Three Waters debate intensifies
2022
Lance Vervoort
~$1.14B
Inflation, infrastructure cost pressures rise
2023
Lance Vervoort
~$1.18B
Housing demand, climate resilience projects grow
2024
Lance Vervoort
~$1.21B
Budget cuts loom; council under pressure
2025
Lance Vervoort
~$1.22B (est)
Rates frozen amid election year tension
🧾 Seven Chiefs of Kirikiriroa: In Order
Anthony Briscoe (~1999–2004) – Pre-stadium, managed steady urban expansion.
Michael Redman (2004–2010) – Visionary but fiscally loose; stadium and V8s.
Barry Harris (2010–2014) – Stabiliser; cleaned up but lacked vision.
David Ayers (Acting, 2014) – Brief tenure, maintained status quo.
Richard Briggs (2014–2020) – Architect of modern Hamilton’s infrastructure; doubled debt.
Jan Gascoigne (Acting, 2020) – Steward through storm, no big plays.
Chorus (returning in jandals, clipboard in hand):
Seven Chiefs have shaped this tale,
From Briscoe's calm to Redman's gale.
Harris steadied, Ayers held ground,
Then Briggs with billions did abound.
Gascoigne bridged, and Lance now bears
The cones, the wrath, the public stares.
Each choice a ripple, each plan a cost—
A billion and more, in dreams embossed.
Yet in gumboots we still trudge the way,
Asking, “When's that pothole fixed, eh?”
Who Hamilton City Council Owes ($1.3 billion)
Hamilton City Council’s $1.3 billion debt isn’t owed to just one lender — it’s spread across a few main sources:
New Zealand Local Government Funding Agency (LGFA)
The LGFA is the biggest single lender to NZ councils.
It’s a council-owned cooperative debt agency that borrows cheaply on the international and NZ bond markets, then on-lends to councils.
Hamilton, like most big councils, does most of its borrowing through the LGFA.
In return, councils guarantee each other’s debt, so Hamilton is jointly liable with other councils if one fails.
Direct Bank Loans
Historically, councils also borrowed from commercial banks (ANZ, BNZ, Westpac, ASB).
This is a smaller proportion today, since LGFA generally offers lower interest rates and longer terms.
Some short-term facilities may still be with banks to manage cash flow.
Bond Market Investors
LGFA issues bonds (essentially IOUs) to large institutional investors, such as:
NZ Super Fund
KiwiSaver funds
Insurance companies
Offshore pension/sovereign funds
These investors ultimately hold the paper that Hamilton is paying interest on.
Crown Infrastructure Partners (specific projects)
For certain big capital projects (like Peacocke housing development, or parts of Three Waters upgrades), the Crown provides infrastructure funding agreements.
This usually means government loans or targeted grants with strings attached (debt still sits on the council’s books, but repayments may be structured over decades).
✅ So in plain terms
Hamilton City Council’s $1.3b is owed mainly to the LGFA (by far the biggest share), with some exposure to banks, and ultimately backed by bondholders and institutional investors who buy LGFA securities.
Interest on Council Debt & User-Pays Relief
We assume total debt of $1.3 billion, 64,000 ratable properties,
and that one-quarter of total rates pays interest. The table shows how this lands on the average rates bill.
Interest rate
Annual interest (I)
Total rates needed (R)
Avg rates / property
Interest share / property
5.0%
$65,000,000
$260,000,000
$4,062.50
$1,015.63
6.0%
$78,000,000
$312,000,000
$4,875.00
$1,218.75
7.0%
$91,000,000
$364,000,000
$5,687.50
$1,421.88
User-Pays: Non-Resident Library Memberships
Residents and ratepayers keep free library cards. Visitors/non-residents pay a fair fee. Every dollar raised can be applied to reduce the interest burden, lowering rates for everyone.
Rule of thumb (with 64,000 properties): • Every $64,000 of revenue reduces the average bill by $1 per property.
• $3.2m lowers the average bill by $50.
• $6.4m lowers the average bill by $100.
• At a 6% interest case, $7.8m offsets 10% of the annual interest.
Examples (assume 6% interest case: I = $78m; R = $312m)
Non-resident fee
Memberships
Revenue
Rates reduction / property
Interest offset
Total rates offset
$20
10,000
$200,000
$3.13
0.26%
0.064%
$20
20,000
$400,000
$6.25
0.51%
0.13%
$40
20,000
$800,000
$12.50
1.03%
0.26%
$60
10,000
$600,000
$9.38
0.77%
0.19%
$60
20,000
$1,200,000
$18.75
1.54%
0.38%
$60
40,000
$2,400,000
$37.50
3.08%
0.77%
Takeaway: keeping libraries free for locals while charging visitors a modest fee
can directly reduce the interest share of rates. Scale the fee or the number of non-resident memberships
to target specific savings (e.g., $50 or $100 off the average bill).
🏦 Hamilton Bank Proposal
🏦 Hamilton Bank Proposal
A Community-Owned Solution to Hamilton’s $1.3 Billion Debt
⸻ Assumptions:
60% of properties have a mortgage → 38,400 mortgaged homes
Averaged across all 64k properties: ≈ $21,400/year (illustrative burden per property)
Estimated offshore outflow: ≈ $511 million per year
This is a proxy for money likely leaving NZ via dividends to Australian parents plus interest to offshore wholesale funders.
It’s not the whole interest bill (a chunk of interest pays local depositors, staff, taxes, etc.), but it’s a reasonable estimate of net leakage.
Why show both?
Gross interest = what households actually pay.
Estimated offshore outflow = the portion plausibly leaving the local/national economy.
“Hamilton households are paying ~$1.4 billion a year in mortgage interest at today’s settings.”
“We estimate ~$500 million a year leaks offshore through dividends and wholesale funding. A locally owned bank keeps more of that money here.”
“Every 1 percentage point change in average mortgage rate shifts total interest by ~$210 million in this mid case.”
🎯 Core Purpose
Create a locally owned public/community bank, seeded by Hamilton City Council, iwi partners, and residents.
Channel the $500m+ of annual mortgage interest currently leaking offshore back into Hamilton.
Dedicate bank profits to repaying council debt, lowering rates, and funding infrastructure.
🔑 How It Works
1. Capital & Ownership
Council equity (e.g., transferring existing cash reserves)
Local iwi investment (Treaty partnership)
Citizen share issue (Hamilton residents can buy small stakes)
2. Banking Focus
Mortgages for Hamilton residents
Loans to local businesses and community housing projects
All profits (after operating costs and prudent reserves) dedicated to:
Paying down council debt
Reducing future ratepayer interest burden
Example:
If Hamilton Bank captured 25% of Hamilton mortgages (~$9b loan book)
At a 2% net margin, it earns $180m profit/year
Even after prudential reserves, $100m+/year could be directed to council debt — clearing the $1.3b in under 15 years
4. Community Return
Free library cards & essential services for residents
Lower fees for locals vs. big four banks
Priority lending to local housing projects
⚖️ Benefits
Keep profits local: No more $500m/year leaking to Australia
Faster debt repayment: Direct pipeline to retire council’s $1.3b debt
Fair rates: Every $100m of debt repaid cuts ~$20m/year in interest, lowering rates pressure
Partnership with iwi: Aligns with Treaty obligations and co-governance principles
Stronger resilience: Local deposits funding local lending, insulated from global shocks
🚩 Challenges
Regulation: Must meet Reserve Bank licensing & capital adequacy rules
Scale: Needs enough mortgages to make an impact (at least $5–10b loan book)
Risk: Council exposed if governance fails — requires strong professional management
Politics: Will face pushback from Australian-owned banks, central government, and some ratepayers wary of council in finance
📣 Campaign Slogan
“Hamilton’s Money for Hamilton’s Future”
Instead of sending half a billion dollars in mortgage interest offshore every year, let’s build a bank that pays down our city’s debt, lowers rates, and invests in our people.
Embedded Video
Watch the Video
My 60-second plan
To Vote or Not to Vote: A Hamiltonian Rhapsody
To Vote or Not to Vote: A Hamiltonian Rhapsody
A Political Comedy-Tragedy in One Act
By Someone So, So Good
Cast
Mesh – A passionate playwright, ever hopeful, ever tragic.
Jackie/Jack – A loyal companion, sometimes confused about names and purpose.
Roderick – A scribe with dreams of council halls.
Sarah, O’Leary, Mead, West, Pike, Thompson – Candidates of varying ambition and loyalty.
Paul Afaque – The would-be CEO, wise and mysterious.
Chorus – The voice of the people. Often ignored.
Act I, Scene I
Time: 3:30 AM
Place: A modest flat in Hamilton. Mesh sits at a glowing computer, lit only by the blue hue of inspiration.
MESH:
Awake again at yon ungodly hour—
Three bells and half! Oh, cursed sleepless power!
To rouse me thus with click and screen aglow,
To pen a play the council shan’t bestow.
I read again: "So, so good!" they cry.
Aye, lyrics born to make the angels sigh!
Yet when I sought a notice, clean and proud,
They struck me down, denied me to the crowd.
Monday the Eighth! Victoria on the stream!
Shall I be silenced in democracy's dream?
If I—a candidate—be cast aside,
Then woe to them whose conscience doth divide!
(Enter JACKIE, now JACK, in dressing gown.)
JACK:
Mesh, bro... You writin' plays again, e hoa?
It’s flippin’ dark! You’ll wake the dog—and Ma!
MESH:
Jackie is Jack to me now in this quest,
For only thou and thee do love me best.
The council’s scrolls do hold no love for me—
But I have plays! And verse! And destiny!
JACK (aside):
Hard case this fulla—talks like Shakespeare's mate,
But gets no airtime on the council slate...
MESH:
Unheard is unseen, my brother so dear,
As Māori wards fall to silence and fear.
A crisis of conscience! A play must be penned!
So that truth may be told and deceit may end!
(Enter RODERICK, holding a scroll and biro.)
RODERICK:
Lo, I bringeth words! A slogan, a line—
“Let Hamilton judge what’s yours and what’s mine.”
MESH:
O Roderick, thou poet of the west!
Thy words do wrap my soul in Sunday best.
Together we shall make the people see—
With signs from Mesh and verse from thee!
JACK:
Mesh, that’s mean and all, but who’s gonna read it?
If it's on your blog, mate, no one will heed it...
MESH:
Yet still I hope! A good mayor may arise—
One of the four, who heed truth over lies.
Sarah and O’Leary, bold and wise,
Mead and West with ambition in their eyes.
Shall Pike and Thompson stay to play the game?
Or add one more to the dance of fame?
Perhaps that one is thee, brave soul unknown—
To sit as mayor upon the local throne!
JACK:
Oi, oi, slow down Mesh! You got a plan here?
Or just another scene for your Shakespearean career?
MESH:
Aye, I dream! Of staff and power and peace—
Of Paul Afaque crowned in CEO fleece.
And I, his helper! A P.A.A. lad,
To steer the ship when times are mad!
RODERICK:
Then let this be a play to stir the town—
With laughs and tears and Shakespeare’s crown!
CHORUS (offstage):
We, the people, often left unseen,
Shall cast our votes where truth hath been.
So play thy play, and sing thy song—
For Hamilton’s fate won’t wait too long.
Epilogue
MESH (to audience):
So onward must we trudge through civic fog,
With pens for swords and minds unclogged.
Let ballots speak and silence fade—
For Hamilton's future must be made.
Also—
“So, so good!” could be a tune,
I’ll write it down... maybe real soon.
