Regional Infrastructure Fund

The objectives of the RIF are:

• to increase economic and social benefits through improved community access and usability of precincts
• to increase economic and social benefits through investment in strategic infrastructure.

The RIF will comprise a single competitive round in the 2019/20 financial year.

The round will open on 6 November 2019 and close on 18 December 2019. Successful applications are expected to be announced in late-January 2020.

Funding available will be capped at $500,000 per project.

Maximum funding ratios are:

Projects seeking funding will need to demonstrate how they will:

• improve economic performance and growth
• create and capture value by harnessing key regional strengths such as social, environmental or economic assets, capital or specialisations
• enhance the social and/or economic resilience and competitiveness of the location
• align with state and regional priorities (i.e. Regional Partnership priority, or Regional, State or National or Council-endorsed plan or strategy)
• maximise the value for money to the state including leveraging investment or funding from other sources
• demonstrate long term feasibility and viability that will sustain positive impacts
• be delivered within two years of receiving funding approval.

Funding will be provided for projects that:

• improve the economic performance of a precinct
• improve business, transport, retail, education, social, cultural, industry or community linkages
• provide multi-purpose infrastructure, suitable and accessible for a wide range of business and community groups such as business hubs, co- working spaces, community and event facilities
• support cultural initiatives of economic significance to the region such as renewal of buildings and sites, arts and cultural centres or resource facilities.

As required, applications should also include:

• a joint use agreement or a completed notification of intent to enter into a joint use agreement form, including a letter of endorsement from the relevant agency
• copy of completed Cultural Heritage Management Plan, Vegetation Assessments, Environmental Management Plans, etc. as appropriate or evidence that these types of plans are not required
• evidence that relevant approvals to commence the project have been obtained, such as Planning Permit, Heritage Victoria Permit, etc.
• schematic plans for the project.

For grants over $300,000, also provide:

• quantity surveyor’s estimate
• construction plans for the project (desirable).

Where the applicant proposes to enter the funding agreement on behalf of a supported organisation the application must include written confirmation from the supported organisation that they have reviewed the application and agree to its content and that the project will be delivered by the applicant on their behalf.

Step 3: Assessment process

Applications will undergo a two-stage assessment process.

1. Determining the proposed project’s eligibility. This will be done by assessing the project’s ability to meet the assessment criteria outlined in Step 2. This stage will also consider key risks and issues associated with the project.
2. Eligible applications will be considered by the Assessment Panel against the assessment criteria.

The Assessment Panel will make a recommendation to the Minister for Regional Development.

The Assessment Panel is chaired by RDV and includes representatives from the Department of Jobs, Precincts and Regions, the Department of Treasury and Finance and the Department of Premier and Cabinet. Where relevant, comments and advice will be sought from other Victorian government departments and agencies.

This table includes projects funded under the previous program streams:

• Enabling Infrastructure
• Productive and Liveable Cities and Centres
• Rural Development
• Visitor Economy