Role of Council
Local councils may choose to participate in Building Upgrade Finance to support their local community in accessing funding for environmental and heritage upgrades to non-residential buildings.
Local councils have a statutory administration role that includes the provision of the following services:
- Assessment of Building Upgrade Agreement applications including checking building owner details, rates payment history and eligibility requirements.
- Checking the building owner’s statutory declaration including the over-leverage test.
- Providing required council inputs to the Building Upgrade Agreement schedules.
- Reviewing and executing the Building Upgrade Agreement.
- Declaring the Building Upgrade Charge and establishing the charge against the relevant property in council systems.
- Raising and issuing of quarterly Building Upgrade Charge notices for the life of the loan.
- Collection of quarterly charge payments and remittance to the finance provider for the life of the loan.
- Debit recovery if needed.
Council Fees 2020-21
In South Australia, local councils usually charge administration fees to assist to recover the cost of the service (as listed below) they provide as part of a Building Upgrade Agreement. These fees are not upfront fees – they are only due after the Building Upgrade Agreement has been signed and the draw down of the loan has commenced.