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Transforming Towns programme to provide funding boost for
towns and businesses across Wales.
Speaking from his Morriston Office, local MS,
Mike Hedges said… ‘I welcome this announcement as local shopping centres
such as Morriston are vital components of our communities. We know that they are under pressure
because of both city centre and out of town drive through outlets. We
need to retain local shopping centres and promote them. I would urge
everyone who has a business in a small shopping Centre to look at this
funding to see if they are eligible. If people need assistance please
contact my office.’
Welsh
Labour's Deputy Minister for Housing and Local Government, Hannah Blythyn
has announced a £10m funding boost for town centres, under the £90m
Transforming Towns programme, to support businesses and increase vibrancy
and footfall in towns across Wales.
The loan scheme will support local authorities to reduce the number of
vacant, under-utilised and redundant sites and premises in town centres
by providing interest free loans to redevelop or refurbish sites.
The properties will be redeveloped as shops, homes and leisure
facilities, with loans being recycled up to three times over a 15 year
period. Once repaid they can be used again to fund new loans and be
re-invested in similar projects.
As part of the Welsh Government’s overall investment of £41.6m previous
successful projects include Tramshed in Cardiff, Tŷ Castell in Caernarfon
and the Magistrates court in Newtown.
The Tramshed in Grangetown Cardiff, which acts as a hub for other local
businesses and has fully repaid it’s loan of £500,000, used the funding
to create hundreds of jobs, accommodated 25 enterprises, created 7,500 sq
ft of business space, supported over 40 community events annually, and
increased footfall by 25,000 people per year.
This funding is part of the Welsh Government’s total investment of £900m
for regeneration projects alongside key partners.
You can read more about this announcement here.
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