New State Government loans on offer to councils

28 November 2019 - Media release

Campaspe Shire Council has agreed to apply for two low interest State Government loans to deliver the Gunbower Lions Park and components of the Echuca East Community Precinct projects.

Mayor, Cr Adrian Weston said the loan applications would need to be approved by the State Government for our projects to progress, and with many councils competing for the offer, there are no guarantees.

“The Gunbower Lions Park Project aims to revitalise the town with a bbq and shelter, natural play space, canoe launch, street furniture, flagpole and rock monument, a new footpath network, tractor relocation and landscaping at a total project cost of $811,250,” Cr Weston said.

“The Echuca East Community Project incorporates a multipurpose community building, multipurpose open activity space, designated off leash dog park, cycling and walking paths, open space facilities and an accessible play space.”

“The project has been separated into six stages with a total cost of $8,200,650. Council agreed to lodge a loan application for stages one to four at a total cost of $6,946,567.”

“Council considered progressing an application for a $1.3 million loan to deliver the Waranga Rail Trail project, however it was identified as a good candidate for other future government grant funding.”

“Council did not want to over commit by potentially adding three major projects to the 2020-21 budget, putting significant strain on council resources and finances.”

$100 million of loans are being offered to Victorian councils through the new State Government Community Infrastructure Loan Scheme.

Councils can apply for loans between $500,000 and $10 million to deliver significant community infrastructure projects.

Council will lodge the two applications by 29 November 2019 and will be notified of the outcome of the application by the State Government after February 2020.