The Victorian Government recently announced the introduction of the Local Government Legislation Amendment (Environmental Upgrade Agreements) Bill 2015 with the stated goal of facilitating investment, creating building jobs and reducing costs through improving energy efficiency of non-residential buildings.

According to the Hon Lily D’Ambrosio, Minister for Industry, Energy and Resources, the bill will provide council-based financing through the use of Environmental Upgrade Agreements (EUAs) under which lenders provide finance to a building owner for environmental upgrades. The local council collects repayments through its rates system and passes them on to the lender. EUAs are currently available only in the City of Melbourne, and this bill would enable all councils to offer them.

More information is available on the government website here.