Five local authorities are set to benefit from an £8 million Welsh Government towns programme Welsh Government Climate Change Minister Julie James has confirmed.
The Transforming Towns Loans (TTLs) programme supports local authorities with town and city centre regeneration projects and has allocated more than £73 million since its launch in 2014 and has brought over 600 units back into use. Caerphilly, Cardiff, Swansea, Gwynedd and Wrexham local authorities will benefit from the latest funding announcement and will use the funds to help revitalise town and city centres and give vacant buildings a new lease of life.
The loan is being used to help property owners access the finance they need to invest and grow during challenging times and will reduce the number of vacant, underutilised and redundant sites and premises to actively encourage diversification to sustain the towns as a place to live, work, visit and stay.
Tackling empty properties is a central pillar of the Welsh Government’s Transforming Towns programme, and this loan funding will be used alongside the main regeneration grant programme worth £100 million (over three years), the £43 million Property Loans programme, and a range of enforcement tools on offer to support local authorities across Wales.
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