The local Rotary Club, which set-up the 42-metre ride in 1982, is having the slide replaced with $150,000 in federal government bushfire aid to cover the changeover.

Bright Rotary president Allan Poyner is delighted with the funding.

"The thing raises about $40,000 a year which goes directly back into the community and I think that's one reason why we got a grant," Mr Poyner said.

"We've noticed over the last couple of years it's started to have a bit of wear and tear and we've decided to bite the bullet and replace the whole slide."

The slide, which opens into the Ovens River, was dismantled into around 20 pieces last month and they have been taken to Melbourne company Fibreglass Victoria with moulds to be used to create new sections that will match the existing route.

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"We plan to have it back up this summer, we normally start on Boxing Day," Mr Poyner said.

"There's a two-month turnaround (with construction) and they will come and assist with the replacement."

Mr Poyner said the new green slide will have a smoother ride given it will not have the joint problems of its predecessor.

He said the club had already built up a kitty to self-fund the new slide, but the government funding would now allow that to be used on other community projects in the Ovens Valley.

Alpine Shire received just over $2 million through the latest bushfire assistance with mayor John Forsyth saying it was "absolutely fantastic" and pleasing the government had acted on community guidance for works.

Tawonga Hall will receive $850,000 to allow for group accommodation in times of an emergency with a shower block to be built and $536,875 will go to Harrietville Hall to allow for new rooms to be built.

Towong Shire also scored funds with $1.5 million to be spent on creating a mountain bike park in the Mitta State Forest with some existing fire trails used.

Based at Mount Welcome, the project will result in 38 kilometres of tracks across 13 trails with a beginners' loop and runs for intermediate and advanced riders.