The worsening crisis in Australian local infrastructure planning, maintenance and renewal has finally captured the attention of public policy makers. While uncertainty still surrounds the magnitude of the crisis, several recent public inquiries have investigated the problem and advanced recommendations for its remediation. Despite the undoubted severity of the problem, to date the academic literature has largely ignored the Australian local infrastructure crisis. This paper represents an exploratory attempt to remedy this neglect by considering the dimensions of the problem as well as various suggestions aimed at rectifying the situation. The paper also seeks to add to the discussion by proposing a tentative solution in the form of a Commonwealth Infrastructure Asset Fund that could operate in a fashion analogous to the current Roads to Recovery Program.