The scheme provides low-interest, government-guaranteed loans of between $500,000 and $10 million to councils, clubs, associations, educational institutions and facility managers to develop high-quality community sport and active recreation infrastructure.
Darebin City Council secured $10 million to transform the ageing Northcote Aquatic & Recreation Centre into an accessible and sustainable community facility with 50-metre and 25-metre pools, splash park, warm water pool, learn-to-swim pool, wellness rooms and new changerooms. The $63.5 million centre will be the first in Australia with a 6 Star Green Star rating.
Other projects to receive a boost include the East Gippsland Shire Council which will receive a $5 million loan to expand and upgrade the WORLD Sporting Precinct in Bairnsdale.
Melton City Council will receive a $3.3 million loan to construct a new pavilion at Melton Recreation Reserve, while Royal Geelong Yacht Club will receive a $4.5 million loan to deliver the Stage 1 On-Land Project at the Geelong Waterfront Safe Harbour Precinct.
Other successful projects are based in Indigo Shire, Frankston, Colac, Yarrawonga, Carnegie and Glen Iris.
Lending through this round of the scheme will help successful organisations deliver almost $170 million worth of community sport and recreation infrastructure across the state.
In addition to providing organisations with access to low-interest loans, the Victorian Government makes interest subsidy payments that effectively halve the interest paid by borrowers – saving organisations an enormous amount of money and helping kick-start infrastructure projects that support our economic recovery.
The Victorian Government has invested more than $1.1 billion in community sport and active recreation infrastructure since 2014, including $178 million into the Community Sports Infrastructure Stimulus Program that has now supported 70 significant infrastructure projects to make sure our sports facilities are accessible to more people.
For further information on the Community Sports Infrastructure Loans Scheme including details on all loan recipients.