What is the Regional Tourism Investment Fund 2024?

The Regional Tourism Investment Fund will support new and innovative tourism infrastructure projects that increase year-round visitation, improve the quality of customer experiences and increase visitors’ length of stay.

How much funding is available under this fund?

There is up to $62 million available across all 3 streams.

The fund will provide grants under three streams:

• Stream 1 – Small-Scale Projects: between $100,000 and $1 million (excl. GST) for new small infrastructure or enhancements to existing infrastructure that builds on the current visitor experience. Projects must align with one or more of the product priorities outlined in Experience Victoria 2033.
• Stream 2 – Large-Scale Projects: between $1,000,001 and $5 million (excl. GST) for new infrastructure that supports visitor experience. Projects must align with one or more of the product priorities outlined in Experience Victoria 2033.
• Stream 3 – Accommodation uplift: between $500,000 and $2 million (excl. GST) for revitalisation of existing accommodation offerings to enhance the overall visitor experience and align with modern visitor expectations at an accommodation site.

Is there a word limit in the criteria application form?

Yes. The online application form has a 5000-character limit, per section. This is approximately 750-1100 words per section.

Is there assistance with the financial mandatory documentation requirements for the application?

The department is unable to provide financial, business or legal advice.

It is recommended applicants seek independent financial advice for any question relating to the required financial documents. It is also recommended that professional financial advice on the tax implications of receiving a grant is sought independently.

What financial documents do I need to submit with my application?

The mandatory financial requirements are outlined on page 17 of the guidelines, these are:

• Financial Reports for the last three financial years. This should be the ‘final accounts’ with Directors’ Report and Declaration and should include Profit and Loss Statement, Balance Sheet, Cash Flows, and notes to the accounts. If accounts are not audited, unaudited accounts prepared an Accountant registered on the Tax Practitioner Board will be accepted.
• If the latest financial report is more than six months old, up-to-date Management or Interim Accounts for the current year including Profit and Loss Statement and Balance Sheet, and, in the case of public listed corporations, a half yearly financial report.
• Current Business Plan, or project proposal
• The company’s financial projections for the next three financial years, including Profit and Loss and Cash Flow
• An attestation of whether the applicant is or has been the subject of any investigations by the State Revenue Office (SRO) and/or Australian Taxation Office (ATO).

My company / business has been trading for 1.5 years, can I apply for RTIF?

Please review the mandatory documentation relating to evidence of financial viability.

Mandatory financial documentation includes financial reports for the last 3 financial years for a company. Where a company has traded for a period less than 3 years the company/business will not be able to meet the mandatory financial requirements to pass the Financial Risk Assessment which is part of the broader assessment process.

How do I submit supporting documentation for my application?

Supporting documentation must be emailed to tourism.projects@ecodev.vic.gov.au by 2:00 pm on Friday 19 July 2024. Supporting documentation will not be accepted after this time.

Please zip all supporting documents into one compressed folder. Please ensure all supporting documents are clearly named (for example, Plans – Project Name, Costs – Project Name) and include the Supporting Documentation Checklist with your email.  

Further instructions on how to compress documents into a zip file can be found on page 19 of the guidelines.

How do I know if my project is appropriate for the Regional Tourism Investment Fund?

2 information sessions were held online in June to provide further information on the fund and to answer any questions you may have.

A recording of the presentation is available to view.

When do applications close?

Application close on Friday 19 July 2024 at 2pm. Applications will not be accepted after this date and time.

Can I email my application in?

No. Applications will be accepted via the online form only. Applications via email will be deemed ineligible.

Who do I contact if I’m having trouble using the application system, submitting an application form or have a question?

Please email tourism.projects@ecodev.vic.gov.au with the details of your project scope and location.

What should the co-contribution letter include?

A letter from the CEO or Company Director confirming the amount that will be contributed towards the project, also stating that any project over runs will be covered by the organisation. A bank statement is required as evidence of the co-contribution. Letters that do not clearly state the contribution amount e.g. $100,000, will not be accepted.

What should the letters of support include?

Letters of support from relevant stakeholders should include the project scope and cost, and demonstrate project alignment to the organisation’s relevant strategies/plans.

How do I work out the funding ratio?

Guidance in relation to the funding ratios are provide on page 8 of the guidelines. Please note there are different ratios for different locations and organisations.

What locations are eligible to apply?

Eligible project locations are listed on page 12 of the guidelines.

What is Landowner Consent?

Landowner consent is a mandatory requirement to apply for RTIF. A letter from the landowner supporting and agreeing to the project taking place on the property is required. To access the Landowner Consent template Land owner consent form (DOCX 170.99 KB) .

Landowners can include private landowners and public landowners such as local government authorities, water authorities, the Department of Energy, Environment and Climate Action. It is recommended that you engage early with public land managers to enable enough time for consideration of your request.

When will successful outcomes be announced?

Outcomes will be announced from November 2024.

What do I do if my council procurement policy states that the organisation is unable to obtain quotes until a successful project has been announced?

For projects under $1 million, realistic internal costings based on a similar project where quotes cannot be obtained will be accepted. Evidence of these projects and the actual costs should be provided as verification. Costings must not be less than six months old.

For projects over $1 million, quantity surveyor estimates (that are less than 12 months old) are required for project costs.

Our company has 3 separate businesses with individual ABN’s, am I eligible to apply for each business?

No. Only one application per company is eligible.

Can I apply for a project in more than one stream?

No. Applicants can submit a maximum of one application and must choose the most appropriate stream.

Are there any resources that can assist with project planning?

The Tourism Investment – from concept to reality guide is a great resource to assist with understanding the project lifecycle and steps required to deliver a well-planned project. Click the link to Toolkit for more information.

Can the co-contribution include internal project management costs or staff salaries?

Staff wages, training and development costs are an ineligible expense. Refer to section 4.2.6 for further ineligible expenses in the guidelines. The co-contribution amount cannot be put towards ineligible expenditure.

Can the co-contribution come from different sources including bank finance or does the total amount need to be in the applicant’s bank account?

The co-contribution can be comprised of the applicant’s own funding or funding from other organisations including local government authorities, schools, educational institutions, and community organisations. A letter is required from each funding organisation, signed by an authorised person, clearly stating the funding amount and evidence of funding available via a bank statement. Evidence of bank finance can be provided via a copy of the Agreement or similar from the bank committing to loan.

I applied for the Enabling Tourism Fund 2024; can I also apply for the Regional Tourism Investment Fund 2024?

Projects that applied to the Enabling Tourism Fund 2024 will likely be ineligible due to the requirement to demonstrate project readiness and be ‘shovel ready’ at the time of application for the Regional Tourism Investment Fund.

I applied for the Enabling Tourism Fund 2021/2022; can I also apply for the Regional Tourism Investment Fund 2024?

Projects funded through the Enabling Tourism Fund 2021/2022 round are encouraged to consider an application. Your project will need to meet the eligibility criteria and demonstrate project readiness at the time of the application.

Do I need my planning permit approved to apply?

Applications to the Regional Tourism Investment Fund need to be ‘shovel ready’ and have an approved planning permit as outlined in the mandatory documentation on page 17 of the guidelines. Approved planning permits are mandatory as they demonstrate project readiness at the time of application.

Planning permits can take a significant amount of time to be approved and as each project has unique characteristics, an approved permit is required to demonstrate the project’s ability to commence construction within 9 months of the signed funding agreement.
Projects that do not require a planning permit need to provide evidence that a plan is not required such as a letter from a landowner/local government authority.

Do I need to provide quotations at the time of application?

Yes, project costings are a mandatory requirement. Projects under $1 million require quotes / independent cost estimates (less than 6 months old). For project costs over $1 million Quantity Surveyor estimates (less than 12 months old) are required.

What evidence of insurance is required?

Applicants need to demonstrate proof of current business insurance.

Are non-fixed items eligible for funding?

No, only fixed infrastructure related costs will be covered. For example, the construction of an outdoor dining space may include a pergola, deck area, fencing and bar but costs relating to the tables, chairs, crockery, and cutlery are ineligible to include. For a kitchen upgrade items that make up part of the kitchen design itself (oven, stove etc) are eligible, but fridges, microwaves, kettles etc are not.

We have already started construction works on our project; can we still apply?

Projects that have already commenced construction and are seeking funding are considered retrospective funding which is not eligible. The project cannot start prior to a funding agreement being executed. This includes the purchase of building materials.

Can I use my own choice of contractors to complete the project?

Successful applicants can proceed with contractors of choice. Details of the third parties appointed to contribute to the project will need to be evidenced in the project plan template. The applicant cannot use grant funding to engage services (including supplier or consultancy services) and/ or purchase products from another entity that is wholly or partly owned or controlled by the applicant. Applicants and Service Providers must be entirely separate entities.  It is advised that you refer to the guidelines section 10.4 in regard to ‘Related Entities’ if you are unsure.

Are accommodation upgrades considered under Stream 1 if I do not meet the minimum total project cost for Stream 3?

Applicants can submit for small-scale accommodation options via Stream 1. Similarly, large accommodation projects may wish to apply under Stream 3. 

Applicants should ensure that all criteria of the Program Guidelines are met. If applying for Stream 3 please ensure that the benefits of the uplift in existing accommodation are detailed.

Are houseboats, cabins, eco pods, glamping tents and tiny houses eligible?

Yes, providing they are fixed infrastructure. Glamping tents would need to demonstrate construction of a fixed base.  Houseboats are the exception to the ‘fixed’ rule due to their provision of accommodation on a water setting providing a tourism benefit through encouraging overnight stays. It is advised applicants considering a project such as a houseboat should consider what the point of difference is in their offering.

For example, will the project fill a gap in the market through a new accessible boat or will be creating a new luxury flagship vessel for the region.  

Purchase of non-fixed equipment and furnishing (e.g. dining tables, beds) is not eligible.

Are the amounts listed per stream relating to the total project cost or grant funding amount?

The fund will provide grants under 3 streams.

The amounts listed below relate to the range of grant funding available to request.

• Stream 1 – Small-Scale Projects: between $100,000 and $1 million (excl. GST)
• Stream 2 – Large-Scale Projects: between $1,000,001 and $5 million (excl. GST)
• Stream 3 – Accommodation Uplift: between $500,000 and $2 million (excl. GST)

We operate multiple sites under the one business, can our application cover multiple sites or only one location?

Projects or activities across multiple sites are not eligible. The project needs to be on one site that falls within the eligible locations listed on page 12 of the Program Guidelines.

What is an auspice arrangement?

When an entity is not incorporated, an auspice arrangement may be considered. The proposed project is still required to meet all other eligibility criteria. An auspice arrangement is when a larger organisation assists a smaller organisation to fund a grant activity.

The auspice then becomes the applicant and will be responsible for:

• signing the grant agreement
• all legal and financial responsibility of the grant on your organisations behalf
• receiving and distributing grant funds under the grant agreement
• ensuring all grant activities are completed
• submitting accountability and evaluation reports and financial acquittals on your organisations behalf.

The funding ratio therefore relates to the auspice as the applicant.

The arrangement will need to be negotiated between the two organisations involved and you will need to demonstrate a proven partnership.

You will need to provide evidence of this arrangement via a letter from the auspice organisation detailing the arrangement and a statutory declaration confirming the auspice organisation has agreed to the activity.

The Tourism Infrastructure team cannot assist you to find an auspice organisation.

My company is located outside of Victoria, but my project is located in Victoria. Am I eligible to apply?

The applicant organisation does not need to be based in Victoria, it’s only the project location and infrastructure that would need to be in an eligible location in Victoria.

Eligible project locations are listed on page 12 of the Program Guidelines.