Round Three - Call for Applications
National Rental Affordability Scheme Round Three Application Guidelines and Application Form are now available.
Proposals for Round Three of the National Rental Affordability Scheme must be submitted by 5pm AEST on Tuesday 31 August 2010.
Applications will be assessed as they are received and decisions will be announced during the application period.
The extended application period responds to feedback received from housing providers and developers about the time required for project planning and securing finance.
Round Three application components:
- Applications which link to proposals under the Social Housing Initiative.
The Australian Government is encouraging affordable housing proposals which seek to use funding from the Social Housing Initiative (part of the Nation Building Economic Stimulus Plan) and NRAS to maximise housing outcomes for low and moderate income households through the construction of socially balanced residential developments.
The Government is also encouraging mixed developments with some dwellings funded under the Social Housing Initiative and others attracting the National Rental Incentive. Proposals which are linked to applications under the Social Housing Initiative are encouraged where they create additional building activity, for instance, by proposing to construct additional dwellings to be supported by the NRAS.
Some successful applicants under the Social Housing Initiative component of the Nation Building and Economic Stimulus Plan will be contacted directly to determine whether they are interested in lodging an application under NRAS.
Funding from the Social Housing Initiative cannot be used as a capital contribution for dwellings that already attract or will seek a National Rental Incentive under the NRAS
- Applications for the private sector to develop state-owned land that has been released for residential development – the NRAS component can be all or part of the development.
The second component of round three allows for developments on public land which has been released for affordable housing by State and Territory Governments. The land is identified by State and Territory governments and the Commonwealth agrees that it is suitable to include homes attracting NRAS Incentives to help facilitate mixed developments that include a proportion of affordable housing supported by NRAS.
Successful proponents for the development of public land released for residential development, who have included an NRAS component in the development, will be invited to submit an NRAS application.
The NRAS application will be facilitated by the relevant State or Territory Government and take account of the procurement process already conducted for the development of the land.
The Commonwealth will support State and Territory identification and assessment of the local housing need in such proposals.
The targeted approach for components (1) and (2) aims to simplify and encourage mixed developments on public land, and support linkages with the Social Housing Initiative (part of the National Building Economic Stimulus Plan). Proposals must still meet the requirements of the Scheme and Application Guidelines for the first two components will be distributed with the application pack.
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Applications which propose to construct a minimum of 1,000 dwellings as a large scale portfolio of affordable housing.
This component of Round Three is targeted at institutional investors and large residential development companies who can construct a minimum of 1000 dwellings.
Mandatory Requirements
Mandatory requirements of the Scheme include:
- Dwellings will:
- comply with State, Territory and Local Government planning and building codes and requirements,
- be rented to 'eligible tenants,'
- be rented at a rate that is at least 20 per cent below the market rate.
- Dwellings must either:
- not have been lived in as a residence; or
- not have been lived in as a residence since having been made fit for occupancy where otherwise the dwelling was recognised as being uninhabitable; or
- if it has been converted to create additional residences, then a part of the dwelling or building that is capable of being lived in as a separate residence must not have been lived in as a separate residence.
Assessment Criteria
The Assessment Criteria for each component of Round Three are detailed in the National Rental Affordability Scheme Regulations, Schedule 1:
- Applications which link to proposals for the Social Housing initiative component of the Nation Building and Economic Stimulus Plan (Assessment Criteria Set 5).
- Applications which seek to have the private sector develop state-owned land that has been released for residential development and include a proportion attracting NRAS incentives. (Assessment Criteria Set 3).
- Applications which propose to construct a minimum of 1,000 dwellings as a large scale portfolio of affordable housing (Assessment Criteria Set 4).
Applying for Round Three
Related information
Information for Investors
Information for Banks and Financial Institutions