Environmental Upgrade Agreement legislation passes ParliamentA financing mechanism to fund environmental upgrades for existing buildings, can now be offered by local governments across Victoria after Parliament passed legislation enabling the state-wide roll out of Environmental Upgrade Agreements (EUA).An EUA allows building owners to borrow money under competitive terms from a financier, and repay the loan through council imposed levies. Upgrades which can be funded through EUA include works which improve a building’s resource efficiency and sustainability. Prior to the legislative change, the City of Melbourne was the only Victorian council which could enact EUAs. For more info around EUAs, click here.
Home Property Australia Environmental Upgrade Agreement legislation passes Victorian Parliament