The Minns Labor Government is accelerating housing delivery in regional communities providing $12.3 million in financial support to councils which will help unlock more than 9,800 new homes through the latest round of the Low Cost Loans Initiative (LCLI).
The funding will help bring forward six enabling infrastructure projects across five regional councils which will enable housing growth.
From road upgrades to water and sewer systems and community facilities the funding will help build better communities right across NSW.
Recipients include:
- Wollongong City Council - $3.2 million towards the $28 million upgrade of West Dapto Road, from Yard Street to Darkes Road, accelerating delivery of 1500 new homes in Council's West Dapto Urban Release Area.
- Port Macquarie-Hastings Council - $7 million towards the $152 million Cowarra Water Treatment Plant, supporting more than 5300 new homes.
- Cowra Shire - $932,800 towards a $10 million upgrade of Cowra Aquatic Centre, including a new 50-metre outdoor pool, two new filtration and water treatment systems, and upgraded electrical systems and amenity to support new housing demand.
- Greater Hume Shire - $354,300 towards a $2.8 million Jindera Sewer Treatment Plant augmentation, supporting 260 new dwellings.
- Orange City - $398,600 towards a $2.4 million upgrade of the Molong Road intersection, enabling 1,200 new residential lots.
- Orange City - $433,000 towards a $2.6 million upgrade of the Northern Distributor Road and Clergate Road Intersection, enabling 1,300 new residential lots.
The competitive grants program was open to all 95 regional councils to help deliver critical infrastructure that will accelerate new housing supply. Under the LCLI, the NSW Government covers 50 per cent of interest costs on eligible loans.
This brings the NSW Government investment to $31.3 million for the Low Cost Loans Initiative, supporting the delivery of $792 million worth of essential infrastructure across NSW. For more information, visit: NSW Planning.
Minister for Planning and Public Spaces Paul Scully said:
"We're helping councils deliver the infrastructure that supports more new homes by cutting borrowing costs and accelerating the delivery of roads, water and sewer infrastructure that communities rely on.
"By supporting infrastructure that growing communities need, we're creating more opportunities for people to live and work in regional NSW.
"We're working with councils to support sustainable growth and to give regional communities the confidence to plan for the future."
Minister for Regional NSW Tara Moriarty said:
"This funding is about making it easier for councils to deliver the essential services and infrastructure that regional communities need to grow.
"With many regional families struggling to find affordable homes to rent and buy, the Low Cost Loans Initiative is supporting more housing choice in areas where it's needed.
"By supporting councils to bring forward these projects, we're helping ensure regional NSW remains a great place to live and work."
