Environmental Upgrade Finance, a new initiative

As a property and business owner, you have the opportunity to apply for a new form of finance called an Environmental Upgrade Agreement (EUA). It can help you access capital, free up cash flow, and help you complete projects that give your business long term security and cost savings.

Currently available to Victorians in participating Council areas, the Greater Shepparton Council is leading the initiative to upgrade your property. They’re now offering EUAs to assist Greater Shepparton businesses including those in the Goulburn Valley to save money and improve their environmental performance.

The initiative has been funded by the Sustainable Melbourne Fund (SMF), a body established in 2002 to provide commercially minded financial support to businesses who are implementing projects that have an environmental benefit. They aim to ensure that as many Victorians as possible gain access to this new and growing form of finance.

WHAT IS AN EUA?

An Environmental Upgrade Agreement (EUA) is an agreement between a building owner, a bank and the building owner’s local council that facilitates a building upgrade to improve environmental performance. It’s easy to apply to and involves no upfront costs for your project (simply repay via a fixed quarterly charge on your property rates notice).

To read more about Environmental Upgrade Finance, have a look at this flyer including a handful of case studies.

Find out more about EUAs and the initiative in general on the Greater Shepparton site.

WHO SHOULD APPLY?

This initiative is currently only available in Victoria with participating councils. There is no cut-off date, though your property must be in the region of a participating Council and your planned project must meet the below requirements:

  • Must be works on rateable land
  • Must be an improvement to an existing building
  • Only available to non-residential properties, including CNI, agriculture, etc

Apply or find out more about eligibility here.

The following councils are participants:

  • City of Melbourne Council
  • City of Greater Bendigo Council
  • Greater Dandenong Council
  • City of Greater Geelong Council
  • Brimbank City Council
  • City of Monash Council
  • Greater Shepparton Council
  • Hobsons Bay City Council
  • Macedon Ranges Shire Council
  • Maribyrnong City Council
  • Mildura Rural City Council
  • Moira Shire Council
  • Moreland City Council
  • Mornington Peninsula Shire
  • Mount Alexander Shire Council
  • South Gippsland Shire Council
  • Wyndam City Shire Council
  • Yarra Ranges Council
  • Baw Baw Shire Council
  • Darebin City Council
  • Central Goldfields Shire

To talk to the Greater Shepparton Council about the initiative, call 03 5832 9700 or email them at 

Alternatively, contact Council’s Investment Attraction Department on 03 5832 9700 or email michael.carrafa@shepparton.vic.gov.au.

To contact the Sustainable Melbourne fund directly, email them at info@sustainablemelbournefund.com.au

By |July 31st, 2018|Future Business, Grants and Finance, News, Opportunities|

About the Author:

APAL is an industry representative body and non-profit membership organisation that supports Australia’s commercial apple and pear growers.