Councils and water corporations can apply for funding of up to $250,000 to help develop whole-of-water-cycle management plans for localised areas.
Water Minister Peter Walsh said the plans were a detailed analysis of a town or area's overall water balance, looking at risks and opportunities in safeguarding water supplies to ensure it remained liveable through future droughts.
The Victorian Government has allocated $1.5 million to the new Living Regions initiative.
Submissions close 1 December 2014 http://www.livingvictoria.vic.gov.au/
