Community housing sector investment

Financial backing for the community housing sector

 

$550 million guarantee program

over six years - new initiative since 2016-17 Budget Update

$550 million loan facility

over six years - new initiative since 2016-17 Budget Update

$2 million implementation costs

in 2016-2017 - new initiative since 2016-17 Budget Update

Our state’s community housing sector assists thousands of Victorians and provides efficient local management of housing. We need to give the sector the investment tools it needs to grow while prioritising those most in need.

Victorian non-profit community housing organisations already manage around 20,000 tenancies across the state and continue to construct new affordable dwellings. The sector could do even more – but it needs support to grow.

The Government is encouraging the growth of this sector by giving housing associations and select housing providers participating in the Victorian Housing Register the capacity to invest in new social and affordable housing.

This will include:

  • a $550 million revolving loan facility providing low cost, long-term subordinate loans to Housing Associations and select Housing Providers
  • up to $550 million available as a loan guarantee program, to help Housing Associations and select Housing Providers access finance at affordable interest rates. These guarantees will be issued over six years as economic projects and partnerships are developed
  • funding of $2 million will cover the Government’s implementation costs, including for legal advice, loan documentation, or setting up the guarantee program

Applications for loans and guarantees under this program can be made through The Department of Health and Human Services at BFCHA@dhhs.vic.gov.au

Contact

For more information, email Angelo.Catalano@dhhs.vic.gov.au