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Additional £1m secured to help town centre regeneration

 
Created on 08/02/2017 @ 18:07
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Interest free loans are to be made available in Newtown to help support the regeneration of the the town centre.

It has been revealed that up to an additional £1million has been secured by Powys County Council to be shared between Newtown, Llandrindod Wells and Brecon for interest free loans over the next 15 years.

Powys County Council has secured the extra £1million from the Welsh Government’s Town Centre Loan Scheme, which was introduced to improve town centres in Wales.

The interest-free loans scheme is aimed at reducing the number of vacant, underutilised and redundant sites and premises within the town centre.

The loans can be used for a range of regeneration projects including brownfield site development to returning empty business/residential units back into use.

The extra money follows on from the £1.25m that the council successfully secured in 2015, which is now being used to returning 37 residential and one business unit back into use in Newtown and Llandrindod Wells.

The loans are available to residential and commercial property owners and are repayable within five years.

They will then be ‘recycled’ for use on other projects.  This 15-year scheme focusses on business units and affordable housing.

Cllr Tony Thomas, Cabinet Member for Regeneration and Planning, said: “I’m delighted that we have secured an additional £1m as part of the Town Centre Loan Scheme.

“Empty and underutilised properties in town centres can be an eye sore but this scheme is the type of initiative that will invigorate our towns and encourage investment into the county.  The scheme will support the diversification of town centres and also encourage more sustainable uses of empty sites and premises such as residential, leisure or for key services.

“I’m pleased that the Welsh Government is tackling this issue.  We will continue to work closely with the Welsh Government and our other partners to deliver real economic benefits for the Powys economy.”

To express an interest in the scheme and for further information please contact Julian.Preece@powys.gov.uk or Regeneration@powys.gov.uk

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