The scheme provides low-interest government-guaranteed loans from $500,000 to up to $10 million to councils, clubs, associations, educational institutions and facility managers to develop high-quality community sport and active recreation infrastructure.
In addition to providing organisations with access to low interest-rate loans, the Government makes interest subsidy payments that effectively halve the interest paid by borrowers – saving organisations significant money and helping to kick-start infrastructure projects.
The scheme will support the delivery of community sport and recreation infrastructure that will increase participation opportunities for Victorians, placing a focus on areas of disadvantage and under-represented groups, and stimulate local economies.
Eligible projects include the development or upgrade of infrastructure such as aquatic leisure facilities, indoor sports stadiums, community sport precincts, pavilions, sports grounds, skate parks and trails, as well as the packaging of similar projects across multiple sites. A full list can be found at sport.vic.gov.au.
The first round of the scheme supported councils and organisations to deliver more than $264 million of community sport and recreation infrastructure across the state, including $10 million to support the redevelopment of the East Keilor Leisure Centre.
The Community Sports Infrastructure Loans Scheme is part of the Government’s investment in supporting community sport and active recreation in these challenging times, including the $40 million Community Sport Sector COVID-19 Survival Package.
The Government is also investing $68 million in shovel-ready community sport and active recreation infrastructure projects across the state, to stimulate jobs and economic activity and deliver fantastic new projects to local communities as part of the $2.7 billion Building Works package.
For further information on the Community Sports Infrastructure Loans Scheme