Local councils, clubs and organisations now have access to low interest loans to boost sport and recreational facilities with the launch of the Victorian 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 providing access to low interest loans, the Government will make interest subsidy payments that will effectively halve the interest paid by borrowers – saving communities significant money.
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.
The Government is investing in a range of initiatives to improve health and wellbeing, help communities attract and host events and tournaments, and ensure grassroots sport infrastructure grows as Victoria does.
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.
Source: Vic Government