Local council involvement is essential to making Building Upgrade Finance available to local businesses and building owners.
Building Upgrade Finance can be administered by councils as part of their day-to-day business, and complements existing operational processes such as processing applications and agreements, setting up charges, issuing notices and enforcement for non-payment.
Councils are able to charge a service fee for administrative costs related to the Building Upgrade Finance process, and are not liable for non-payment of repayments by building owners.
Changes to the NSW Local Government Amendment 1993 (Part 2A – Environmental Upgrade Agreements) enables all NSW councils to enter into EUAs.
Why would a local council participate in Building Upgrade Finance?
There are a number of benefits to local councils enabling Building Upgrade Finance in their local area. These include:
- Providing an opportunity to support non-residential property owners and business tenants to upgrade their buildings to operate more efficiently, helping to reduce operating costs and improve business competitiveness.
- Aligning with Council’s economic development and sustainability targets.
- Facilitating activation and rejuvenation of business and community precincts.
For more information on the benefits, council’s role, sample documents and council contacts, see the Local Councils Building Upgrade Finance Guide.