Businesses, property owners and residents in Newtown are to be able to tap into an interest free loan scheme to help regenerate buildings in the town centre.
The loans are part of a £1.25m, 15 year scheme by Powys County Council aimed at supporting the regeneration of three town centres in Powys.
The council secured the money for the Town Centre Loan Scheme from the Welsh Government as part of its £5 million package to improve town centres in Wales.
Officials behind the scheme said they hope it will not only support town centre regeneration, but develop vibrant and viable places.
The scheme aims to reduce 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 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 Avril York, Cabinet Member for Regeneration, said: “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 delighted that this funding is available and 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
