The Cairns Regional Council has applied for a $15 million interest-free loan through the Building Acceleration Fund 2020 (BAF2020) to accelerate construction of a water reservoir for Mount Peter.
Department of State Development, Tourism and Innovation’s BAF2020 is an initiative under the Queensland Government’s Economic Recovery Strategy, Unite and Recover for Queensland Jobs
Construction of a water reservoir for Mount Peter was planned to start in the 2023-24 financial year, however based on a surge in demand for residential land in the area, the council can start construction within the next 12 months.
The project includes construction of an 8ML water reservoir, installation of trunk water lines, a pumping station and chlorination building. The infrastructure will service 446 lots that currently lie outside council’s Priority Infrastructure Area.
The project is estimated to cost $18.2 million, with council required to fund the initial $3.2 million of costs before drawing down on the loan, which has a 15-year repayment period.
This water infrastructure will support additional long-term development and population growth in the Mount Peter Master Planned Area.
