The New South Wales Government has announced an additional $30 million to assist local councils pay for infrastructure upgrades and maintenance, as part of the state’s Local Government Renewal Scheme.

 

In handing down his second State Budget, Treasurer Mike Baird said the spending reflects the success of the scheme, with the additional funding extending its reach, allowing more councils to benefit.

 

The Scheme provides councils an interest subsidy for a period of up to 10 years on significant loans taken out specifically to pay for backlog infrastructure projects such as roads, community halls, libraries, paths, parks, sports fields and water facilities.

 

“The Scheme is a key aspect of the NSW Government’s Local Infrastructure Backlog policy and will not only help NSW councils reduce the large backlog of infrastructure projects in their communities, it will also assist councils on such matters as better use of debt funding, exploring various borrowing options, and each council’s borrowing capacity,” State Minister for Local Government Don Page said.