Institute weighs in on catalytic fund

The Institute’s CEO Kirsty Chessher-Brown has written to all local governments that cover branch territory, to provide assistance identifying priority projects for the Queensland Government’s recent announcement on Building Acceleration Fund.

Across these local governments, there are many opportunities to put forward proposals to unlock further development opportunities that will generate greater employment and construction activity.

The $200 million Building Acceleration Fund is a Queensland Government initiative to accelerate economic recovery through investing in infrastructure that unlocks development, generates construction activity and creates long-term employment.

We are pleased to see some councils responding to our correspondence and engaging with us and our local members on some potential key infrastructure items. It’s important to note that local governments can put in an application and is not only available to the private industry.

The fund will provide co-investment funds through an interest-free loan. The funds will be available to eligible developers, councils and industry for infrastructure projects that generate private sector investment and stimulate post COVID-19 economic recovery.

Applications under this fund conclude at 5pm on Friday 4 September 2020. We urge all relevant local governments and members to move quickly on this as time is limited.

If members have any questions on this fund, please contact the State Government via email or (07) 3452 7880.