The Building Acceleration Fund is a Queensland Government initiative to accelerate economic recovery through investing in infrastructure that unlocks development, generates construction activity and creates long-term employment.
The fund will provide co-investment funds through an interest-free loan. The funds will be available to eligible developers, councils and industry for infrastructure projects that generate private sector investment and stimulate post–COVID19 economic recovery.
Applications for the Building Acceleration Fund closed on Friday 4 September 2020.
An assessment panel is currently evaluating all submissions received by the deadline.
Applications were open for projects ready to commence construction within 12 months of funding approval, and that demonstrate substantial flow-on economic benefits.
Proponents and projects have to meet eligibility requirements outlined in the guidelines (582 KB), including providing a co-investment towards the project costs.
Frequently asked questions
What is the Building Acceleration Fund (BAF-2020)?
The Building Acceleration Fund 2020 (BAF-2020) is a Queensland Government initiative to invest in catalyst infrastructure projects which serve to stimulate economic recovery as part of the Unite and Recover for Queensland Jobs strategy.
The fund provides co-investment funds via interest-free loans to Queensland local governments, utility providers, developers and industry for infrastructure projects that unlock development, generating construction and creating long-term employment.
What is catalyst infrastructure?
This program defines catalytic infrastructure as the construction of physical networks, or ‘hard’ infrastructure, which is necessary to unlock development and create long-term employment.
Projects will involve construction of roads, water distribution, sewerage/wastewater, stormwater and transport infrastructure. However other categories of infrastructure such as public realm and building facilities will be considered, provided they meet the program criteria.
What is co-investment?
Co-investment is a mechanism between the government and one or more eligible proponents to deliver BAF-2020 infrastructure. Proponents must co-invest at least 10% of the project costs. The level of BAF-2020 co-investment will be a consideration in assessing and prioritising each proposed project.
For approved projects, funds will be provided by the government under an interest-free loan arrangement.
Who is eligible for BAF-2020 funding?
BAF-2020 funding may be provided to the following entities:
Please note Government Owned Corporation (GOC), as defined under the GOC Act are not an eligible entity.
What infrastructure projects could be considered for BAF-2020 funding?
Infrastructure projects must be ready to commence construction within 12 months of entering into a funding agreement.
Projects will involve the construction of roads, water distribution, sewerage/wastewater and stormwater infrastructure. However other categories of infrastructure, such as public realm, transport infrastructure and building facilities will be considered, provided they meet the program criteria.
There is no minimum amount of funding; funding will depend on the scale of the project. The proponent must also co-invest at least 10% of the total infrastructure project cost.
Where will the projects be located?
The fund will support projects across the state.
What will government consider in deciding whether to co-invest in a project?
Evaluation of proposals will be undertaken through a staged process which will consider criteria including that the project delivers jobs and economic benefits and can commence construction within 12 months of funding approval.
This is so investment can be prioritised for projects that deliver the greatest benefit to Queensland.
If a proponent is successful, will they need to enter into an agreement?
Yes. The agreement will set out the Queensland Government's commitment to make the investment and the proponent's commitment to repay the investment over time.
What interest is payable on co-investment?
No interest is payable as the BAF-2020 co-investment is provided under an interest-free loan arrangement.
Will the government manage the delivery of the BAF-2020 infrastructure?
The government will not be responsible for the delivery of the infrastructure. The delivery will be managed by the successful proponents.
Economic Development Queensland, on behalf of the government, will oversee the expenditure of its investment through the establishment of a project control group.
Is there an example of the kind of project that would be supported?
BAF-2020 is all about supporting infrastructure that unlocks development. One example of the sort of outcome that can be achieved is demonstrated at Elliot Springs in Townsville, where the Queensland Government provided $15 million towards essential catalyst infrastructure under an agreement similar to the BAF-2020.
A second project co-invested under the same agreement was the first large data centre for the Toowoomba region, the Queensland Government provided $10 million towards essential catalyst infrastructure facilitating economic development in agri-technologgy and associated emerging industries.
Is a project eligible if it has previously secured grant funding?
The BAF-2020 is not available for co-funding or replacing any existing infrastructure grant funding or for local government projects which already have approved budget.
Details of any co-investment partners or other funding sources must be provided within the Application.
For more information about the Building Acceleration Fund: