Roderick John Young BSc, LLB.

Hamilton West: Fair Rates, Safe Streets, Local Power.

Debt Discipline, Growth Without Gouging, Hamilton Bank — Investigate Roderick J. Young

Results of Election as at 18 Oct 2025 5.32 am

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Rank Roderick J. Young #1–#3 for West Ward

Independent Candidate – Hamilton West

📈 Read our Housing Growth Policy

Or read: The four on the 22 - a Billy-T x Shakespeare clubroom play

Authorised by Roderick J. Young — contact: roderickjy@gmail.com — Hamilton.

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About Roderick

Candidate Statement

Roderick is a committed local who believes in practical service and clear thinking. He studied public policy, engineering and law, and has worked across public sector planning, digital systems, and community-led initiatives.

He holds a Post Graduate Diploma in Public Policy from Waikato University, a B.Sc., and LLB and has advised organisations on systems change, youth employment, and sustainable infrastructure.

Roderick believes Hamilton deserves a future-focused Council—transparent, responsible, and fair. He brings skills in governance, data, finance, and public consultation. He supports evidence-based decisions and community voices being heard early, not late.

He bikes or buses across town, spends time with family and neighbours, and enjoys music, reading, and strong coffee. He’s a grounded person with a serious commitment to local democracy. Vote for Roderick J. Young—someone who reads the fine print and listens well.

Roderick lives in Hamilton and supports local action with national impact.

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Postal voting: Tue 9 Sep – Sat 11 Oct 2025 (closes 12:00 pm). Hamilton uses STV — rank candidates and keep ranking.

Read the Play where 1,400 staff vote to save their jobs

“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.

What It Means for You in Hamilton West

Making politics personal, practical, and local

🏡 Fairer Rates for Westside Households

You’ve been paying too much — and getting too little.

In Hamilton West, many homes have seen rising rates while basic services stay the same or even decline.

  1. A full review of the rates system to ensure fairness by suburb.
  2. Stop punishing long-time residents with sharp increases.
  3. Keep rates predictable and transparent.

📍 Example: In places like Nawton and Dinsdale, many families and pensioners are facing sharp rate hikes — this must stop.

🛣️ Safer Streets, Better Roads, Proper Footpaths

You walk, bike, drive, or catch the bus — and you’ve seen the cracks.

Older suburbs in Hamilton West have been neglected — with poor lighting, broken footpaths, and risky crossings.

  1. Ward-by-ward audit of urgent safety upgrades.
  2. Traffic-calming near schools and shops.
  3. Clear timelines and public updates.

📍 Example: Ellicott Road and parts of Nawton Road need speed control and footpath renewal.

🚍 Public Transport that Actually Serves You

You’d use the bus or train — if it worked for you.

Public transport is slow, patchy, and doesn’t connect Hamilton West well.

  1. Push for 15-minute frequency on key bus routes.
  2. Improve bus stop safety and shelters.
  3. Start transport planning from the suburbs out — not the CBD in.

📍 Example: In Western Heights and Nawton, buses are slow and indirect — we can fix this.

🏦 The Hamilton Bank – Keep the Money Here

Your rates and loans shouldn’t line corporate pockets.

Big banks profit while Hamilton borrows billions — and we all pay for it.

  1. Establish a Hamilton Civic Bank to:
    1. Reduce borrowing costs.
    2. Invest in local infrastructure.
    3. Offer ethical, transparent lending.

📍 What it means for you: More value from your rates, support for home buyers and small businesses in Hamilton West.

🌳 Protecting West’s Green Spaces & Parks

Your suburb deserves beauty and breathing space.

Hamilton West has parks that are loved but under-resourced.

  • Lock in protections for parks and reserves.
  • Restore playgrounds, sports fields, and toilets.
  • Create more pocket parks and gardens in new developments.

📍 Example: Elliott Park and Swarbrick Park need upgrades and proper care.

🧱 Infill Housing Done With You, Not To You

Yes to smart growth. No to characterless cramming.

We need housing, but Westside neighbourhoods shouldn’t be overwhelmed without say.

  • Neighbourhood design panels to shape new builds.
  • Ensure green space, parking, and drainage in all infill housing.
  • Focus on affordable home ownership, not just rentals.

📍 What it means for you: Protect your street’s character, safety, and value.

🤝 Real Representation, Not Hollow Promises

I’m not here to join a party line — I’m here to represent you.

  • Monthly drop-ins across Hamilton West.
  • Full transparency on votes and policies.
  • Independent voice — no party pressure, just your concerns.

📋 Summary – If You Live in Hamilton West:

Issue What Roderick Offers
💰 Rates Fairer, more predictable bills
🛣️ Roads Safer intersections, better footpaths
🚌 Buses Faster, more frequent service
🏦 Money A local bank to reduce debt and support locals
🌳 Parks Protect and improve Westside green space
🧱 Housing Smarter, better-quality infill
🗣️ Voice Regular contact and real transparency

✅ A Vote for Roderick is a Vote for:

  • Your suburb.
  • Your street.
  • Your say.

🌿 Meet the Candidates @ Victoria by the River

📅 Mondays, 5–7pm
( — weekly until election + post-election)

📍 Location: Victoria by the River Amphitheatre
Opposite Collingwood Street


All 52 Hamilton candidates are warmly invited to a relaxed community kōrero.

This is a chance to:

📣 Email this to your support base and spread the word.

✨ Hosted & MC’d by: Roderick J. Young

💌 Just turn up or RSVP: roderickjy@gmail.com
Visit campaign site ↗

Mayoral Candidates Face Off at Victoria on the River Forum

Hamilton, NZ — Monday, 5–7 PM

In a spirited evening of civic engagement, Victoria on the River played host to a lively candidates’ meeting featuring three mayoral hopefuls and representation from each of Hamilton’s wards — West, East, and Māori. The open-air forum brought local politics directly to the people, blending formal presentations with the rhythms of city life, as passersby on foot, wheels, and bikes added to the dynamic audience.

Each mayoral candidate presented a unique resolution they would bring to the first official council meeting. Proposals ranged from removing unpopular road humps to introducing a two-term limit for elected officials. The diversity of ideas reflected a shared desire for fresh thinking and stronger accountability within the council.

Notable speakers included Roma Warren and Lawrence, who delivered clear, impassioned remarks on their visions for Hamilton’s future. Also drawing applause was the incumbent councillor who proudly noted a 100% attendance record throughout the current term — a point of pride and commitment that resonated with attendees.

Several candidates highlighted their attendance at recent Chamber of Commerce events, underlining their engagement with both business and community concerns.

The crowd ebbed and flowed throughout the evening — a unique mix of RSVP attendees and curious passersby. Despite challenges in reaching all candidates due to incomplete contact information, the organizers were pleased to report that over 50% had responded to the invitation.

Looking ahead, organizers are planning to continue these sessions weekly, every Monday from 5–7 PM, leading up to the election. Next week’s focus will shift to mana wāhine, following this week’s opening theme of mana tāne. Maria — both Marias — have been warmly welcomed to join the next session.

— ENDS —

📨 Email Me

Rates & Debt, Safer Streets, Housing/Infill (no sprawl bill-shock), Transport & Parking, Parks & Pools, Open Council.

🎥 Watch Video Roderick J Young

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Bio & Endorsements

Short Bio (50 words)

Roderick J. Young is a hands‑on community advocate focused on fair rates, safer streets, and growth that pays its way. He brings practical budgeting and a do‑the‑work ethic—getting small things fixed so the big things add up.

Bio (120 words)

Roderick has deep roots in Hamilton West—from Frankton to Dinsdale and Nawton. He’s worked alongside clubs, small businesses, and neighbours to solve everyday problems: safety hotspots, maintenance backlogs, and confusing council processes. His focus is simple: keep rates fair, publish clear numbers, and make growth pay its way so existing ratepayers aren’t left carrying the can. He’ll front up monthly with neighbourhood surgeries and post every vote and reason within 48 hours.

“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
Policy Priorities – Council Platform

Policy Priorities – Council Platform

  1. Rates & debt – Freeze nice-to-have growth, sequence capital projects, and publish a plain-English debt & rates dashboard. Proof: monthly variance to budget, public.
  2. Rates-hardship – Offer postponement on title for cash-poor/house-rich; cap interest to a transparent formula. Proof: uptake + arrears trend.
  3. Transparency – Default-open data on contracts, change orders, and KPIs. Proof: on-time, on-budget scorecards per project.
  4. Procurement (buy local) – Weighted scoring for local suppliers where lawful; split tenders so SMEs can bid. Proof: % spend with local firms.
  5. Consents speed – Triage simple consents, publish median days, and ‘fix-it-with-me’ desks. Proof: 90-day backlog cleared by X date.
  6. Affordable subdivisions – Pre-zone + pre-service where pipes/roads exist; require affordable lots in staged releases. Proof: lots consented, average section price.
  7. LIM access – Accessible, low-cost LIMs with auto-released standard data. Proof: price drop + turnaround time.
  8. Three Waters / water services – Prioritise leak reduction, stormwater hotspots, and treatment resilience. Proof: leaks per km, boil-notice days = 0.
  9. Roading & safety – Fix high-harm intersections first; maintain before new monuments. Proof: KSI reduction year-on-year.
  10. Public transport – Clock-face frequency on key routes, real-time reliability targets. Proof: on-time performance + ridership trend.
  11. Cycling & walking – Connect missing 1–2 km gaps to schools/shops. Proof: counts on completed links.
  12. Parking – Dynamic pricing in the CBD; resident permits near hotspots. Proof: occupancy 70–85% target.
  13. Community safety – Light the dark spots, activate spaces, fund proven youth pathways with NGOs. Proof: reported incidents drop at treated sites.
  14. Parks & libraries – Protect maintenance budgets; libraries as warm, learning hubs. Proof: footfall + program participation.
  15. Events & economy – Prioritise events that fill beds and tills. Proof: independent econ impact per $ of council support.
  16. Climate & resilience – Flood maps into planning rules; lift floor levels in risk areas. Proof: insured losses avoided after next storm.
  17. Waste & recycling – Cut contamination with ‘oops tags’; expand organics where cost-effective. Proof: contamination % and landfill tonnage.
  18. Animal management – Education + enforcement; target repeat offenders. Proof: bite incidents and roaming rates.
  19. Bylaws & noise – Fair rules, consistent enforcement, quick mediation. Proof: resolution times.
  20. Heritage & culture – Support adaptive reuse; small grants where a little saves a lot. Proof: heritage places reused not demolished.
  21. Youth engagement – Youth panel tied to budget priorities; fund spaces they design. Proof: attendance + retention.
  22. Māori partnership – Co-design on land/water and place names; measure outcomes not meetings. Proof: agreed indicators reported jointly.
  23. Small business – One-stop startup desk: signage/consent/food regs. Proof: time to first sale.
  24. Seniors & accessibility – Audit footpaths, crossings, toilets; fix high-pain defects first. Proof: closure rate of accessibility hazards.
  25. Digital services – Track requests from app to fix; publish queue. Proof: median resolution time down.
  26. Procurement integrity – Publish shortlist, scoring, and change orders. Proof: fewer disputes, lower overruns.
  27. Big builds (value) – Stage gates with stop/go triggers; kill low-value scope creep. Proof: benefit–cost ratio preserved at each gate.
  28. Rates fairness – Keep essentials first; nice-to-haves last. Proof: share of spend on core services ≥ target.
Hamilton City Council Debt Overview Hamilton Debt-Free Plan

✅ A Plan to Make Hamilton Debt-Free in 13 Years

I have a clear, community-powered path to eliminate Hamilton City’s $1.3 billion debt — completely — within 13 years.

The 10c Saver (10% p.a.)

Register the 10 cents in your pocket and earn 10% per year on the first $50. Start small, build the habit, watch it grow.

How to start

  1. Open a free micro-saver (kids welcome).
  2. Register 10c with a QR stamp, a drop-box pledge (7-day window), or at a participating retailer till.
  3. We credit your account immediately and pay daily interest monthly.

Example

Deposit $0.10 at 10% p.a. (daily compounding) ⇒ about $0.11052 after one year.

Safeguards

  • Funds held with a licensed NZ deposit taker.
  • Clear, monthly statements; plain-English fees (none).
  • Pledges auto-reverse if coins aren’t dropped within 7 days.
Promo terms (short) 10% p.a. on the first $50 of your balance for 12 months from your first deposit. Standard saver rate applies above $50. Interest accrues daily to 6 decimal places and is paid monthly, rounded to the cent. “Register now, drop later” pledges must be funded within 7 days or they’re reversed. No fees.
10% p.a. on the first $50 of your balance for 12 months from your first deposit. Standard saver rate applies above $50. Interest accrues daily to 6 decimal places and is paid monthly, rounded to the cent. “Register now, drop later” pledges must be funded within 7 days or they’re reversed. No fees.
Rank & Return: The Inside Job

Rank & Return: The Inside Job

A teaching play about STV, in Shakespeare’s cloak with a Billy T grin


Dramatis Personae

  • CHORUS OF KIRIKIRIROA – the river’s voice, your friendly explainer.
  • BILLY THE JESTER – MC with a wink; keeps it plain.
  • THE RETURNING OFFICER – pilot of quotas and transfers.
  • LADY SPREADSHEET – tidy budgets, tidy ballots.
  • SIR DOOR KNOCK – wins with kōrero, not corflute.
  • DAME TIKTOK – viral, vibey, occasionally numerical.
  • LORD HOARDING – billboard bard.
  • COUNT CORFLUTE – prince of plastic castles.
  • NANA RATEPAYER – wallet’s watchdog.
  • THE STUDENT – rent-squeezed, bus-wise.
  • THE DONOR – a purse with opinions.
  • 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
2003Anthony Briscoe~$180MPre-stadium, stable growth phase
2004Michael Redman~$200MRedman begins; stadium dream stirs
2005Michael Redman~$270MV8s, stadium costs begin
2006Michael Redman~$360MRapid borrowing; budget optimism
2007Michael Redman~$420MConstruction and commitments mount
2008Michael Redman~$470MAuditor concerns grow
2009Michael Redman~$500MScrutiny increases; Redman exits mid-2010
2010Barry Harris~$510MStadium legacy hangs heavy
2011Barry Harris~$530MModest increases, tighter controls
2012Barry Harris~$560MRates stabilize, little infrastructure growth
2013Barry Harris~$580MDebt climbs slowly amid conservative strategy
2014David Ayers (Acting)~$600MInterim leadership preps ground for Briggs
2016Richard Briggs~$720MCentral govt funding deals struck
2017Richard Briggs~$800MPeacocke infrastructure begins
2018Richard Briggs~$910MThree Waters upgrades, transport spend increases
2019Richard Briggs~$1.02BDebt crosses billion mark
2020Jan Gascoigne (Acting)~$1.06BCOVID-19 hits; budgets hold under pressure
2021Lance Vervoort~$1.10BFocus on Te Tiriti, Three Waters debate intensifies
2022Lance Vervoort~$1.14BInflation, infrastructure cost pressures rise
2023Lance Vervoort~$1.18BHousing demand, climate resilience projects grow
2024Lance Vervoort~$1.21BBudget cuts loom; council under pressure
2025Lance 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.
  • Lance Vervoort (2020– ) – Accountable leader; inherits burden, seeks balance.

🎭 Addendum: A New Chorus for the Seven

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:


  1. 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.

  2. 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.

  3. 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.

  4. 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
$2010,000$200,000 $3.130.26%0.064%
$2020,000$400,000 $6.250.51%0.13%
$4020,000$800,000 $12.501.03%0.26%
$6010,000$600,000 $9.380.77%0.19%
$6020,000$1,200,000 $18.751.54%0.38%
$6040,000$2,400,000 $37.503.08%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
  • $550k average mortgage (per mortgaged home)
  • 6.5% average mortgage rate
  • For offshore flow proxy:
    • 2% NIM (bank profit on loans)
    • 85% of profits remitted offshore
    • 30% wholesale funding from offshore at 5%

Results:

  • Annual mortgage interest paid (gross): ≈ $1.37 billion
  • Per mortgaged home: ≈ $35,800/year interest
  • 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
  • Everyday banking: deposits, savings, EFTPOS, online services

3. Debt Repayment Mechanism

  • All profits (after operating costs and prudent reserves) dedicated to:
    1. Paying down council debt
    2. 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

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“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.


👉 “Candidate Roderick John Young” — approves this message.

Authorised by Roderick J. Young — contact: roderickjy@gmail.com — Hamilton.

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Authorised by Roderick J. Young — contact: roderickjy@gmail.com — Hamilton.

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