Building Acceleration Fund
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 provided co-investment through an interest-free loan, available to eligible developers, councils and industry for infrastructure projects that generate private sector investment and stimulate post COVID-19 economic recovery.
Applications for the Building Acceleration Fund closed on Friday 4 September 2020 for projects that were ready to commence construction within 12 months of funding approval, and that demonstrate substantial flow-on economic benefits.
Proponents and projects had to meet eligibility requirements outlined in the guidelines (582 KB), including providing a co-investment towards the project costs.
On 6 June 2021, $43.148 million was announced under the Industry Partnership Program for additional short-listed projects identified through the Building Acceleration Fund evaluation process.
Frequently asked questions
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.
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.
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.
BAF-2020 funding may be provided to the following entities:
- local governments
- utility providers
Please note Government Owned Corporation (GOC), as defined under the GOC Act are not an eligible entity.
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.
The fund will support projects across the state.
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.
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.
No interest is payable as the BAF-2020 co-investment is provided under an interest-free loan arrangement.
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.
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.
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.
Successful projects will be announced by the Minister for State Development, Infrastructure, Local Government and Planning as projects are approved for loan funding.
- Archerfield Airport Corporation – Project AIM, announced on 29 January 2021.
- Lendlease Communities and Frasers Property – Yarrabilba development and Bahrs Scrub roadworks, announced 17 March 2021.
- Unitywater – Caboolture West water and sewerage infrastructure – announced 25 March 2021.
- Boulia Shire Council – Min Min Encounter – announced 18 June 2021.
- Shoreline, Redland Bay – wastewater treatment plant – announced 25 June 2021.
The Queensland Government has not made any commitment for further rounds of the Building Acceleration Fund.
For more information about the Building Acceleration Fund:
Last updated: Wednesday, Jun 9, 2021