Financial support to cover the strata management costs of project remediate
Owners corporations with combustible cladding are eligible for a payment of between $10,000 and $15,000 to help with strata management costs of participating in Project Remediate.
Key information
- Owners corporations that join Project Remediate can claim a one-off payment to help with the strata management costs of participating in the program.
- They will become eligible for the payment once the loan agreement and remediation contracts have been executed.
- The payment is calculated on the number of residential lots in a strata scheme.
How the strata payment is calculated
All strata schemes with 70 or fewer residential lots will be entitled to a minimum payment of $10,000.
Payments for strata schemes with greater than 70 residential lots will be calculated in accordance with the size of each strata scheme (e.g. the number of residential lots).
Schemes with greater than 70 residential lots will be entitled to a payment of $142.85 per lot.
A scheme with 80 residential lots will be entitled to a payment of $11,428, however, payments will be capped at $15,000 so a scheme with 120 residential units will only be entitled to a $15,000 payment as opposed to $17,142.
How to calculate your payment
| Number of residential lots | Payment available |
|---|---|
| 70 or fewer | $10,000 |
| 71 or more | $142.50 per residential lot (maximum $15,000) |
A residential lot does not include a garage or car space lot, a utility lot, or a lot used for a non-residential purpose.
Please note that GST is not payable on this amount and should not be included in your calculation.
How payments are made
Owners corporations will become eligible for the strata payment at the point they enter into the loan agreement and remediation contracts.
At this point, owners corporation can use the form below to provide relevant details for payments to be processed. We will make payments via EFT within 45 business days.
If an owners corporation has multiple strata managers throughout the life of the program, the owners corporation will be responsible for distributing pro-rata payments to each of their strata managers.
What you need to complete this form
- The details of the building that you are claiming the payment for (including the building address, your strata plan number and the number of residential lots).
- Information about your owners corporation (e.g. your strata plan number, address, contact details, ABN, bank details and the amount that you are claiming).
- Authorised representative details (for example, name and contact details).
What happens after you submit this form?
- We will review your claim and may contact you to obtain more information.
- Once we receive your claim, the payment will be made via EFT to your nominated bank account within 45 business days.
Contact us
Email the Office of Project Remediate at projectremediate@customerservice.nsw.gov.au.