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 NSW Local Councils Building Upgrade Finance Guide.