REGIONAL Development Minister Fiona Nash has announced the opening of applications for round one of the $300 million Building Better Regions Fund (BBRF) that aims to drive economic growth and deliver social benefits, in non-metropolitan Australia.
Senator Nash announced plans in last year’s federal election campaign to rebrand and re-direct the program to increase its focus on rural communities and ensure funding was no longer dished-out for projects serving major capital cities.
She also promised the BBRF would adopt a fairer assessment process to differentiate between major, medium sized and smaller projects, and a community investment scheme for non-infrastructure projects would also be introduced.
In a statement, Senator Nash said community groups and local governments were now being encouraged to submit their applications for round one of the BBRF – opening today – with the program dedicated “purely” to investment opportunities across rural, regional and remote Australia.
She said the Fund was designed to invest in projects that would help create regional communities that “our children and grandchildren want to either stay in or come back to”.
“The BBRF will give communities the opportunity to think outside the square and show us the types of investments they believe will strengthen their local community and create jobs,” she said.
“Applicants should demonstrate how their project will drive economic development, make their region a more attractive place to live and foster partnerships across their community.
“Applications will be assessed in three categories depending on the size of the project – so small community projects are not competing against huge projects worth tens of millions.
“Flexible, creative thinking can be a winning formula to receive funding, as long as the proposal also provides clear objectives and maps out benefits for the region.”
Applications are set to close on Tuesday February 28 this year for the Infrastructure Projects Stream and on Friday March 31 for the Community Investments Stream.
Funding will be shared between the two streams - information sessions will also be run throughout the country in January and February to assist applicants with learning more about the fund operates and how to apply, according to the guidelines.
The Community Investments Stream will fund community building activities like new or expanded local events, strategic regional plans and leadership and capability building activities.
The minimum grant amount is $5000 and maximum $10 million but a fact sheet on the program says due to the nature of eligible projects “we expect most grants will be under $100,000”.
Project must be completed within 12 months of entering into a grant agreement.
Projects under $20,000 do not require a co-funding requirement – as opposed to those over $20,000.
Eligible applicants must have an ABN; be a local governing body or not for profit organisation; have a project located outside the major capital cities of Sydney, Melbourne, Brisbane, Perth, Adelaide, and Canberra; provide evidence confirming all co-funding contributions; and have a project that hasn’t started at time of application.
Those ineligible to apply are: for profit organisations; an individual, partnership or trust (however, an incorporated trustee may apply on behalf of a trust); a Commonwealth, state or territory government agency or body (including government business enterprises); a university, technical college, school or hospital; and a Regional Development Australia Committee.
Applications will be assessed according to; the project’s economic and social benefits to the region during and beyond the project period; the project’s value for money; project delivery capacity.
A fact sheet on the Infrastructure Projects Stream says it offers a minimum grant amount of $20,000 and maximum of $10 million and projects must be completed by December 31, 2019.
It says for most projects, grant funding will be up to 50 per cent or up to 75 per cent of eligible project costs and location will determine the percentage of grant funding, with an exemption to co-funding requirements only granted in exceptional and very rare circumstances.
Eligible activities must be directly related to the project like; purchase of materials; external labour hire; plant and equipment hire; and external consulting costs directly related to construction delivery.
Applications will be assessed according to the same criteria as prescribed for the Community Investments Stream.