What can IFF be used for?
The Infrastructure Funding and Financing Model (IFF) supports infrastructure development that underpins housing growth and urban development generally. The levy could be used to fund new or upgraded infrastructure within the following categories:
- Water, wastewater, storm water
- Transport and associated infrastructure (including local roads, state highways, cycle ways and footpaths)
- Public transport infrastructure including rail, busways, park and ride interchanges, stations and shelters
- Community amenities to the extent they form a part of a wider project
- Environmental resilience infrastructure, such as flood protection, pump stations and environmental restoration.
Is there a minimum project cost for IFF to be viable?
Typically, the infrastructure funding required will be over $50m and with a minimum of 1,500 beneficiaries.
What can’t the tool be used for, and why not?
It is not intended to be used for other Crown-provided infrastructure such as schools, police and fire stations and hospitals.
Central government typically provides those assets and there are already established funding mechanism to those types of infrastructure so they will continue to be funded by central government in the usual way.
It cannot be used for network utilities, waste management, and housing.
Where does the finance come from?
CIP has appointed a Senior Debt Panel of suitable debt providers who will be approached for finance under the IFF model.
Who could propose the tool be considered for use for a project?
Anyone could propose infrastructure projects for consideration under the tool. Most likely the proposer will be a council, a developer or the Crown. To ensure the success of the proposal, Government request that proposers work closely with CIP to prepare any proposal before submitting this to the Ministry for Housing and Urban Development for consideration.
If you are interested in applying the IFF model to your project, please contact CIP regarding next steps
As facilitator, CIP will work closely with potential proposers to assess the applicability of IFF to their project . Please Contact Us if you think IFF may be beneficial to your project.