The IIDF is a Queensland State Government reform that provides $350 million for the payment of infrastructure contributions and refund of development application fees.
To be eligible, development must be located in Queensland and be for a material change of use (MCU) or reconfiguring a lot. Development must also be:
· Well-located residential development; or
· Accommodation for workers or tertiary students located near major employment centres; and
· For dwellings other than “luxury housing”; and
· In the case of an MCU, be undeveloped at the time the application for funding is being decided;
· For all other development, the charge is not yet triggered for payment;
· Able to meet the milestones identified in the fund guidelines.
We see this reform as a potential opportunity for many of our clients that are seeking to proceed with infill or affordable housing projects in the near future. The IIDF process may result in the State paying all Council and distributor infrastructure contributions and refunding development application fees that have been previously paid.
For further information on how Project Urban can assist you in applying for the IIDF, please contact us on 5443 2844.