Social and environment benefits Applications should clearly demonstrate how the proposed project: > provides adequate social return to the community > is consistent with environmentally sustainable development and results in demonstrated environmental benefits e.g. addresses the impacts of climate change on the economy, environment and community > builds on identified regional strengths and/or > has relevant community and industry support. Alignment with state and regional priorities and demonstrated project need Applications will need to demonstrate how the project aligns with the relevant regional strategic plan priorities and any relevant state government policies (e.g. tourism policy). Applicants can contact the relevant RDV regional office to determine the alignment of the project with the relevant regional strategic plan priorities. For contact details please to section 5 of this guide. Applications will need to clearly demonstrate the project need including the problem that the project is seeking to resolve and the compelling reason for government assistance. Demonstrated project feasibility and delivery Applications should clearly demonstrate: > that all legal, land tenure, planning and environmental issues have been identified and resolved or satisfactory resolution strategies are in place > access to suitable project management in both the developmental and operational phases of the project > that project risks have been identified and strategies are in place to manage them. Financial viability Applicants will be asked to provide copies of annual reports and audited covering the last three years with their application. This will enable RDV to assess the financial viability of the applicant and their ability to manage and complete the project. Note: Victorian Government departments and statutory agencies, local government authorities and publicly funded universities and educational institutions are exempt from this step. Maximising value to the state Applications should demonstrate and provide evidence of how the project maximises to the state through leveraging funding from a range of sources, including commonwealth and local government, community, private sector and regional organisations. Applicants must be able to demonstrate that the viability of the project is not dependent on ongoing funding or continuing government support. Where future operating costs are an issue, the applicant needs to clearly demonstrate how these costs will be underwritten without recurrent subsidy from Victorian Government sources. Applicants should consider contacting the Industry Capability Network (www.icn.org.au), which can work collaboratively with applicants to help identify competitive local suppliers. Program stream criteria Applicants may need to demonstrate how the project responds to the relevant program stream criteria (see section 2.1 of this for details of the program stream operating under the RIF).
Step 3: Assessment process Applications will undergo a two-stage assessment process. The first stage involves determining the proposed project’s eligibility. This will be done by assessing the project’s ability to meet the core RIF criteria and the relevant program stream criteria. The first stage will also consider key risks and issues associated with the project. In the second the application will proceed to the Regional Infrastructure Development Committee (RIDC) for assessment prior to consideration by the Minister for Regional Development. The RIDC will make a recommendation to the Minister after considering a range of matters including the project’s fit with the eligibility criteria, alignment with government policy, availability of funding, and the outcomes realised from previous funding, if any, provided to the applicant. The RIDC is chaired by RDV and includes representatives from the Department of Premier and Cabinet, the Department of Treasury and Finance and the Department of Economic Development, Jobs, Transport and Resources. Where relevant, comments and advice will be sought from a range of state government agencies. Step 4: Approval process The Minister for Regional Development will consider the advice received from the RIDC and where appropriate, advice from other Ministers, and determine whether or not to approve the application for funding. In the case of applications seeking funding of $5 million or more, the Victorian Treasurer’s authorisation is also required. Applicants are advised of the decision relating to their application in writing. Successful applicants will receive a letter of offer from the Minister for Regional Development. The letter of offer will outline the funding obligations attached to the offer of funding.