Published underIndustry News
Local councils, clubs and organisations now have access to low interest loans to boost sport and recreational facilities with the launch of the Andrews Labor Government’s Community Sports Infrastructure Loans Scheme.
The $100 million scheme will provide low-interest, government-guaranteed loans of between $500,000 and $10 million to deliver infrastructure that boosts grassroots participation.
As well as enticing locals to get out and participate, improved recreational facilities are also a great way of attracting visitation to Melbourne's diverse suburbs, and with increased visitation comes increased visitor spend.
Minister for Sport, Tourism and Major Events, John Eren, said, “This scheme will deliver the facilities local communities need, and encourage more people to get out there and get active.”
Eligible projects include building or upgrading community sport and recreation infrastructure, such as pools, indoor sports stadiums and community sport precincts — including pavilions, grounds and synthetic surfaces.
The Community Sports Infrastructure Loans Scheme complements existing programs, such as the $180 million Community Sports Infrastructure Fund.
Along with providing access to low interest loans, the Labor Government will make interest subsidy payments that will effectively halve the interest paid by borrowers – saving communities significant money.
The Government invested almost half-a-billion dollars in the Victorian Budget 2018/19 to ensure sport and active recreation go from strength-to-strength.
For further information on the Community Sports Infrastructure Loans Scheme go to sport.vic.gov.au/loans.