- Government has announced more details about Project Remediate
- Eligible owner corporations can receive interest free loans
- Aims to remove cladding from 225 buildings by 2023
Kevin Anderson, the Minister for Better Regulation and Innovation, has announced further details surrounding the NSW State Government project that will remove high-risk combustible cladding material from residential apartment buildings.
Project Remediate will provide interest-free 10-year loans to owners corporations to remove high-risk cladding quickly and safely.
To be eligible for the loans the building must be a Class 2 and been confirmed by the Cladding Taskforce as having a high-risk combustible cladding façade.
This follows a ban for types of cladding that is now in effect in Victoria.
The program has been developed since the 2020-21 New South Wales Budget with the end goal being the removal of high-risk combustible cladding across 225 buildings by 2023.
“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 back in November 2020 when it was initially announced.
“This is a significant, complex project. In order to make it as easy as possible for Owners Corporations to take advantage of this program and get this work started, we have invested up to $139 million to set up a project assurance service that will be coordinated through the Office of the NSW Building Commissioner,” said Mr Anderson.
The Minister also made It clear managing contractors will be appointed to take the pressure off owners corporations for each project and to make buildings are remediated to appropriate standards.
The New South Wales Building Commissioner has already begun consulting with the strata sector regarding the project.
The project will support up to 3,500 jobs in the residential construction sector.
Applications for owners corporations to participate in the project will open in March