Low Interest Loans A Grassroots Winner For Sport

11 September 2018

The Andrews Labor Government’s $100 million Community Sports Infrastructure Loans Scheme has been embraced by grassroots sports groups across Victoria.

Treasurer Tim Pallas today announced that 37 applications have been received from councils, clubs, associations and educational institutions across Victoria seeking a total of $186.5 million towards $427 million worth of community sports projects.

The scheme provides low-interest, government-guaranteed loans of between $500,000 and $10 million to approved applicants for the delivery of infrastructure that boosts grassroots participation.

As well as providing access to low interest loans, the Labor Government is subsidising interest payments that will effectively halve the interest paid by borrowers.

Eligible projects include building or upgrading community sport and recreation infrastructure such as indoor sports stadiums and community sport precincts — including pavilions, grounds, pools and synthetic surfaces.

The scheme complements existing local infrastructure investment programs, such as the Community Sports Infrastructure Fund.

It is part of the half a billion dollars the Labor Government invested in the 2018/19 Budget to ensure sport and recreation continues to play a vital role in the health and wellbeing of communities across Victoria.

Quotes attributable to Treasurer Tim Pallas

“Local sport is the collective heartbeat of thousands of communities across Victoria. It’s where lifelong friendships are forged and communities can engage in vibrant and healthy activity.”

“This scheme provides opportunities for councils, clubs, associations and schools to help build their teams, save costs and help them grow.”

Quote attributable to Minister for Sport John Eren

“We want to ensure that everyone can play the sports they love, using quality facilities, no matter where they live – these loans are another way to do that and back up our record investment in community sport.”

Reviewed 19 August 2020

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