Minister for Better Regulation and Innovation Kevin Anderson said the government will establish Project Remediate, a three-year program to help remove combustible cladding on hundreds of the most at-risk buildings.
“We’re not taking any chances when it comes to the safety of people living in buildings identified as being at high-risk from combustible cladding,” Mr Anderson said.
“Our priority is removing unsafe cladding from buildings as soon as possible, which is why we have allocated up to $139 million to co-ordinate the remediation process for affected buildings.”
Mr Anderson said the centrepiece of Project Remediate was a government commitment to pay the interest on loans by commercial lenders to building owners and owners corporations, fast-tracking the removal of unsafe cladding.
“Owners have asked for financial and technical support to help them manage the process and this package will make it happen,” Mr Anderson said.
Mr Anderson said the program would also support significant construction activity and generate thousands of jobs in the sector.
“Not only will this program benefit those living in buildings with unsafe cladding, it will also drive economic recovery with the creation of 3500 jobs as we begin to recover from the unprecedented impacts of COVID-19,” Mr Anderson said.
“With many buildings now ready to commence removing combustible cladding, now is the right time to provide this support.”
Final details on the program design and loan scheme will be announced in December.
Eligible building owners and owners’ corporations will be contacted and invited to participate in Project Remediate. Further information and an online form to register for updates can found online.