1. Housing Affordability Fund

2. Branch Name - Presentation Heading name What is the Housing Affordability Fund? A fund of $512 million over five years to address the supply side barriers to developing new houses: ‘holding costs’ associated with planning and approval delays the cost of developing new infrastructure There is a preference to achieving lasting reform eDA will be allocated as part of a separate process.

3. Who is eligible to apply? Funding will be delivered via direct grants to: Local Government Local Government Associations State and Territory Governments Applications may also be made by partnerships between eligible applicants. Money will be targeted to areas with high demand for new housing and can be used for both green-field and infill.

4. Branch Name - Presentation Heading name Houses to be built The Housing Affordability Fund will be for the development of new housing in either infill or green-field developments. There will be a preference to applications which lead to the construction of moderately priced homes. Funding may be used to support the development of affordable rental accommodation. This may include NRAS or other affordable housing initiatives Applications must ensuring savings are passed on to homebuyers.

5. Branch Name - Presentation Heading name Funding Available $512 million over five years announced in the 2008/09 Budget. This includes: $500 million in available funds. Year/ Funding source 2008 - 092009 - 102010 - 112011 – 122012 - 13 Funding available ($ million) $ 50$ 75 $ 150

6. Application Compliance All proposals must meet relevant Commonwealth, State, and local government planning, environmental and heritage legislation and other requirements.

7. Branch Name - Presentation Heading name Critical Timeline 11 June 2008 – A consultation paper was released. 17 July 2008 – Feedback is being sought on the Fund. August 2008 – Proposals will be sought through a competitive process in. December 2008 – Successful applications to be selected. March/April 2009 – Second EOI process

8. Branch Name - Presentation Heading name Whole of Government Role The Prime Minister has created eight policy working groups under COAG. Housing Working Group has been progressing Housing Election Commitments. Chaired by Housing Minister with state, territory and local government representation HWG agreed that all levels of government would be involved in assessment.

9. Initial application to include: Applicants details and details of any consortium partners Locations and particulars of the proposal. Financial details – total cost of the project, Housing Affordability Fund contribution sought, savings to each home purchaser and how they will be measured. Details of the reform elements of the proposal and how the reforms will last beyond the HAF funding. Timeframes for delivery of the project.

10. Additional information from short listed applicants to include: More detailed explanation of the application criteria Evidence of financial viability Confirmation of savings to be passed through to home buyers Confirmation that reform elements will be achieved by consortium partners and provide a plan for sustaining the reform measures Confirmation of State / Territory Government endorsement

11. Mandatory Criteria Each application for funding must meet the following minimum mandatory criteria to receive funding from the Housing Affordability Fund: 1.The proposal must comply with State, Territory and local government strategic planning objectives and policies, including affordability targets (if they exist), sequencing priorities and be accessible to employment and services;

12. Mandatory Criteria (cont.) 2.Local and State Governments must be able to fund future liabilities arising from the initial funding or reform processes without cost shifting; 3.The proposal must include details of consortia or partnerships.

13. Mandatory Criteria (cont.) Development approval does not need to be obtained for a project before an Expression of Interest is submitted. Yet while an application may be approved for funding pending the receipt of development approval, no payment will be made until approval is obtained.

14. Branch Name - Presentation Heading name Weighted Criteria 1.Cost savings to be passed on to home purchasers. 2.Adoption of a leading practice model in respect of planning and/or Development Application processes which results in cost savings to the homebuyer. 3.The savings generated relating to new, moderately priced homes.

15. Branch Name - Presentation Heading name Weighted Criteria (cont.) 4.Consideration given to additional support from state, territory or local government. 5.Support for accessibility and sustainability outcomes.