Demand outstrips $60 million of funding

By Reporter 02 November 2012 | 1 minute read

A state government’s $60 million funding pool covers less than a quarter of the funding needed for the 71 applications made, according to an announcement regarding these expressions of interest.

All eligible councils, except for one, lodged a request for funding under Queensland’s Royalties for the Regions program, according to deputy premier and minister for state development, infrastructure and planning, Jeff Seeney.

“Royalties for the Regions is about reinvesting a share of royalties in regions to help build new and improved community, road and floodplain security infrastructure,” Mr Seeney said.

“This first round of funding will focus on critical or urgent infrastructure projects that are ‘shovel ready’,” he said.

“Unsurprisingly, demand for funding has outstripped available funding.”

The requested project funding totaled closer to $260 million.

“Of the near $260 million sought, EOIs have identified contributions of $53.3 million from industry and $51 million from local government.

“Next week the government will announce which EOIs best meet the criteria and can be progressed to a full business case.”

The projects ranged from road and flood mitigation projects to water and waste treatment facilities.

Demand outstrips $60 million of funding
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.