Residential Care
Zero Real Interest Loans Results
Zero Real Interest Loans: Results of Round One, Round Two and Round Three
Results of Round One
On 12 April 2008 the Invitation to Apply for $150 million in zero real interest loans and up to 1,250 residential aged care places was notified in major national and regional newspapers. Applications closed on 6 June 2008.Following a comprehensive assessmentof applications, thirty-six approved providers were offered loans totalling $150 million and 1,348 new residential aged care places.
The allocation of the loans and places is dependent upon the applicants complying with the terms and conditions of their individual Loan Agreements. Once the appropriate Loan Agreement has been executed, the associated residential places are formally allocated.
A summary of the offers made and the uptake of offers to the recommended applicants is contained in Table 1.
Table 1: Summary of Round One - as at 18 January 2012
 | Round One | |||||
|---|---|---|---|---|---|---|
| Loan Offers | Loans Executed | ||||
| Aged Care Planning Region/ State | No. of Loans | Value (million) | Resi places | No. of Loans | Value (million) | Resi places |
| Central Coast | 1 | $0.5 | 30 | - | - | - |
| Central West | 2 | $6.5 | 31 | - | - | - |
| Far North Coast | 3 | $6.0 | 33 | 3 | $6.0 | 33 |
| Nepean | 1 | $6.7 | 56 | 1 | $6.7 | 56 |
| New England | 2 | $2.4 | 20 | 2 | $2.4 | 20 |
| Orana Far West | 1 | $3.3 | 13 | 1 | $3.3 | 13 |
| Riverina/Murray | 1 | $0.5 | 44 | 1 | $0.5 | 44 |
| Southern Highlands | 1 | $4.3 | 21 | - | - | - |
New South Wales | 12 | $30.1 | 248 | 8 | $19.0 | 166 |
| Barwon-South Western | 1 | $1.1 | 9 | 1 | $1.1 | 9 |
| Gippsland | 2 | $5.4 | 105 | 2 | $5.4 | 105 |
| Hume | 1 | $8.1 | 89 | 1 | $8.1 | 89 |
| Loddon-Mallee | 2 | $5.2 | 43 | 2 | $5.2 | 43 |
Victoria | 6 | $19.7 | 246 | 6 | $19.7 | 246 |
| Cabool | 2 | $8.6 | 104 | 2 | $8.6 | 104 |
| Far North | 2 | $10.4 | 105 | 1 | $1.4 | 30 |
| Northern | 1 | $0.8 | 10 | 1 | $0.8 | 10 |
| West Moreton | 1 | $5.0 | 30 | 1 | $5.0 | 30 |
Queensland | 6 | $24.8 | 249 | 5 | $15.8 | 174 |
| Metropolitan North | 2 | $19.8 | 150 | 2 | $19.8 | 150 |
| Metropolitan South West | 3 | $21.2 | 172 | 1 | $2.0 | 12 |
| Wheatbelt | 1 | $5.6 | 25 | 1 | $5.6 | 25 |
Western Australia | 6 | $46.6 | 347 | 4 | $27.4 | 187 |
| South East | 2 | $6.8 | 68 | 2 | $6.8 | 68 |
| Whyalla, Flinders & Far North | 1 | $6.0 | 60 | - | - | - |
South Australia | 3 | $12.8 | 128 | 2 | $6.8 | 68 |
| Northern | 2 | $1.3 | 15 | 2 | $1.3 | 15 |
| North Western | 2 | $1.4 | 14 | - | - | - |
| Southern | 3 | $13.3 | 101 | 2 | $9.0 | 65 |
Tasmania | 7 | $16.0 | 130 | 4 | $10.3 | 80 |
| | | | | | |
Total | 40 | $150.0 | 1,348 | 29 | $99.0 | 921 |
Results of Round Two
On 30 January 2010 the Invitation to Apply for $150 million in zero real interest loans and up to 1,250 residential aged care places was notified in major national and regional newspapers. Applications closed on 15 March 2010.Following a comprehensive assessment of applications, nineteen approved providers were offered loans totalling $147 million and 819 new residential aged care places.
The allocation of the loans and places is dependent upon the applicants complying with the terms and conditions of their individual Loan Agreements. Once the appropriate Loan Agreement has been executed, the associated resitendial places are formally allocated.
A summary of the offers made and the uptake of offers to the recommended applicants is contained in Table 2.
Table 2: Summary of Round Two - as at 18 January 2012.
| Round Two | |||||
|---|---|---|---|---|---|---|
| Loan Offers | Loans Executed | ||||
| Aged Care Planning Region/ State | No. of Loans | Value (million) | Resi places | No. of Loans | Value (million) | Resi places |
| Australian Capital Territory | 1 | $17.0 | 41 | - | - | - |
Australian Capital Territory | 1 | $17.0 | 41 | - | - | - |
| Central Coast | 1 | $2.0 | 20 | 1 | $2.0 | 20 |
| Central West | 2 | $23.4 | 88 | - | - | - |
| Hunter | 4 | $28.8 | 192 | 2 | $8.0 | 42 |
| South West Sydney | 1 | $6.0 | 32 | - | - | - |
New South Wales | 8 | $60.2 | 332 | 3 | $10.0 | 62 |
| Eastern Metro | 1 | $6.5 | 60 | - | - | - |
| Grampians | 2 | $3.5 | 35 | - | - | - |
| Loddon-Mallee | 1 | $1.9 | 13 | - | - | - |
| Northern Metro | 1 | $7.5 | 90 | - | - | - |
| Southern Metro | 1 | $8.0 | 60 | - | - | - |
Victoria | 6 | $27.4 | 258 | - | - | - |
| Darling Downs | 1 | $3.0 | 10 | - | - | - |
| Fitzroy | 1 | $1.2 | 10 | - | - | - |
| Wide Bay | 1 | $8.4 | 28 | - | - | - |
Queensland | 3 | $12.6 | 48 | - | - | - |
| Metro South West | 1 | $12.0 | 40 | - | - | - |
Western Australia | 1 | $12.0 | 40 | - | - | - |
| Northern | 1 | $3.0 | 20 | - | - | - |
| Southern | 1 | $14.8 | 80 | - | - | - |
Tasmania | 2 | $17.8 | 100 | - | - | - |
| | | | | | |
Total | 21 | $147.1 | 819 | 3 | $10.0 | 62 |
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Results of Round Three
On 18 June 2011, the Invitation to Apply for up $150 million in zero real interest loans as part of the 2011 Aged Care Approvals Round was notified in major national and regional newspapers. Applications closed on 2 August 2011.Following a comprehensive assessment of applications, twenty-five approved providers were offered loans totalling $150 million and 972 new residential aged care places (and 147 provisionally allocated residential places).
The allocation of the loans and places is dependent upon the applicants complying with the terms and conditions of their individual Loan Agreements. Once the appropriate Loan Agreement has been executed, the associated residential places are formally allocated.
A summary of the offers made and the uptake of offers to the recommended applicants is contained in Table 3.
Table 3: Summary of Round Three – as at 18 January 2012
| Round One | |||||
|---|---|---|---|---|---|---|
| Loan Offers | Loans Executed | ||||
| Aged Care Planning Region/ State | No. of Loans | Value (million) | Resi places | No. of Loans | Value (million) | Resi places |
| Hunter | 1 | $15.5 | 47 | - | - | - |
| Inner West | 1 | $8.7 | 63 | - | - | - |
| New England | 1 | $3.0 | 16 | - | - | - |
| South West Sydney | 1 | $5.8 | 30 | - | - | - |
New South Wales | 4 | $33.0 | 156 | - | - | - |
| Gippsland | 3 | $12.3 | 122 | - | - | - |
| Barwon South Western | 1 | $4.9 | 30 | - | - | - |
Victoria | 4 | $17.2 | 152 | - | - | - |
| Cabool | 2 | $7.4 | 165 | - | - | - |
| Far North | 1 | $3.6 | 30 | - | - | - |
| Northern | 1 | $14.0 | 96 | - | - | - |
Queensland | 4 | $25.0 | 291 | - | - | - |
| Metropolitan East | 2 | $20.5 | 172 | - | - | - |
| Metropolitan South East | 1 | $5.9 | 61 | | | |
| Metropolitan South West | 1 | $2.5 | 10 | | | |
| South West | 1 | $5.5 | 44 | | | |
Western Australia | 5 | $34.4 | 287 | - | - | - |
| Hills, Mallee & Southern | 1 | $4.2 | 20 | - | - | - |
| Metropolitan South | 1 | $4.8 | 30 | | | |
| Riverland | 1 | $9.0 | 50 | | | |
| South East | 1 | $6.0 | 40 | | | |
| Yorke, Lower North & Barossa | 1 | $0.4 | 8 | - | - | - |
South Australia | 5 | $24.4 | 148 | - | - | - |
| Northern | 2 | $4.0 | 25 | - | - | - |
| Southern | 1 | $12.0 | 60 | - | - | - |
Tasmania | 3 | $16.0 | 85 | - | - | - |
| | | | | | |
Total | 25 | $150.0 | 1,119 | - | - | - |
