New Earthquake-Prone Building System: Lowering Costs and Enhancing Safety for Communities
Building and Construction Minister Chris Penk announced a shift in the earthquake-prone building system to reduce repair costs and revitalize communities. The current system places a heavy financial burden on building owners, leading to abandoned and unsafe structures. The new risk-based system will focus on high-risk buildings in seismic zones, remove NBS ratings, and provide relief by lowering costs and allowing for extensions to remediation deadlines.