Biggest ever spend in property upgrades
In the next two years CEHL is set to radically boost spending on property upgrades after successfully securing $6.7million of Victorian Government building maintenance stimulus funds.
It’s our biggest ever investment in property improvement, by combining the government funds and our annual property upgrade budget. The works will improve home energy efficiency and comfort and reduce climate risk and maintenance liability.
The funding is a significant boost to our maintenance program. The next two years will make a real difference to long-term property viability. It’s a huge step toward a more sustainable future, said CEHL Managing Director Stephen Nash.
The additional funds were gained through CEHL’s successful application to the Victorian Government’s Building Maintenance Stimulus Package and will enable over a quarter of all properties (over 500 homes) in our Program, in every region to be upgraded.
CEHL will work closely with co-ops to finalise and implement the works plan which will deliver both Third Schedule and stimulus funded works at the same time. Local tradespeople will be sourced to complete the work, providing an added benefit of job stimulus across Victoria.
Each co-op will receive a plan outlining property upgrade works (Third Schedule) and fully funded stimulus works.
A dedicated Planned Works Team will coordinate and manage the works in a COVID Safe way.
The works will include:
general upgrades to reduce maintenance liability and risk e.g.: underpinning, kitchen and bathroom upgrades
energy efficiency improvements e.g.: heater and hot water service replacements
climate risk reduction e.g.: heater upgrades to split systems, insulation, draught proofing, and hot water service replacement
All works have been informed by co-op and CEHL property data, Program needs and government funding requirements.
It’s a real silver lining from a very challenging year. We were able to put together a robust application to government as we now have accurate, detailed property data and a greater understanding of co-op asset intent through Future Direction plans.
The Asset Management Team is looking forward to working with co-op maintenance directors, getting on with the job and making a real difference to home comfort for program participants.
shared CEHL Meg George, Manager - Asset Management.