Treasurer Curtis Pitt has outlined three shortlisted proponents seeking to deliver innovative services under the state government’s Social Benefit Bonds program.

Mr Pitt said there had been strong interest in the pilot Social Benefit Bonds initiative that will involve investors, the social services sector and partner agencies working together to leverage private sector funding and establish new services in addition to existing services offered by the government and the non-government sector.

Social Benefit Bonds provide a commercial return to investors only if agreed positive social outcomes and financial value for taxpayers are achieved,” Mr Pitt said.

He said the pilot scheme involved three areas of focus:
• tackling homelessness,
• minimising re-offending, and
• addressing issues facing Aboriginal and Torres Strait Islander people.

“A total of 23 submissions were received at the close of the expressions of interest process in May which was followed by a request for proposals phase in August,” Mr Pitt said.
“Three proponents have now been shortlisted to move to the joint development phase.”
The shortlisted proponents are:
• Churches of Christ in the area of homelessness,
• Life Without Barriers in the field of re-offending, and
• UnitingCare Community to address indigenous disadvantage.

“Churches of Christ have proposed a program to address homelessness using an approach based on individualised case management and interventions tailored to young people 15 to 25 leaving out-of-home care,” Mr Pitt said.

“Life Without Barriers proposes a program to reduce the risk of young people being held on remand. The proposed participants are young people aged 10 to 14.

“UnitingCare Community proposes to establish the New Parent Infant Network to increase the reunification of Aboriginal and Torres Strait Islander children currently in out-of-home care.”

Mr Pitt said there would now be a period of joint development with the shortlisted proponents and the finalisation of contracts were likely to proceed in the first half of 2017.

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