Submission to the National Housing Finance and Investment Corporation
The Property Council of Australia is pleased to provide a submission to the consultation on the establishment of the National Housing Finance and Investment Corporation as part of the Government’s 2017-2018 Housing Affordability Budget measures.
The concept of an infrastructure fund has been introduced in a number of states, which provides strong learnings when establishing a Federal Government equivalent:
- a transparent application process - which allows project proponents or consent authorities to seek additional funding towards critical infrastructure.
- clear eligibility criteria - which defines the scope of infrastructure to be provided, the scale of projects that can access the scheme, and outcomes to be achieved.
- co-sponsorship – which allows project proponents and consent authorities to partner on applications to ensure there is consistency with strategic plans.
- independent assessment – whereby the agency assessing applications publishes its reasons for project prioritisation to keep the market informed.
- ongoing reporting – to benchmark progress on the schemes success.
Download the submission below.