Hon Chris PenkMinister for Building and ConstructionThe earthquake-prone building system will be refocused to reduce repair costs and reinvigorate communities, Building and Construction Minister Chris Penk says. “While well intentioned, the current system for assessing and managing seismic risk in buildings places an overwhelming financial burden on building owners. “This refocused earthquake-prone building system is expected to save New Zealanders more than $8.2 billion in remediation and demolition costs. EPB system changes will be enacted through the Building (Earthquake-prone Building System Reform) Amendment Bill. Coastal Otago, including Dunedin, will be classified as a medium seismic hazard area and will remain within the earthquake-prone building system.