Torfaen County Borough Council is now accepting applications for a new grant programme aimed at regenerating key buildings within Pontypool Town Centre. Funded by Welsh Government, the Torfaen Urban Centre Investment Funds support commercial or mixed use commercial/ residential building improvement projects with grants of up to £250,000 available.
What is the Urban Property Enhancement Fund?
This grant fund will provide financial support for applicants to physically improve their commercial premises in Pontypool Town Centre. The purpose of the fund is to enhance the physical condition and appearance of buildings, including shop frontages and vacant internal floor space. The scheme is aimed at strengthening economic viability by creating jobs, and bringing vacant properties and business floorspace back into beneficial use.
What is the Urban Centre Living Grant Fund?
This grant fund will provide financial support for applicants to physically improve their premises for residential purposes. The scheme is aimed at revitalising vacant or underutilised space above commercial premises to create new homes in Pontypool Town Centre.
What support is available?
Financial support for both grant funds will be a maximum of 70% of the total eligible project cost, up to a maximum of £250,000. All grants are at the discretion of the Council and will be assessed on an individual and competitive basis. Expenditure incurred and/or works started before grant approval will not be eligible for funding.
Am I eligible?
The fund is open to businesses and property owners located within the designated Area in Pontypool Town Centre. Grant funding will only be available to owners of the freehold interest in the property or to lessees holding a minimum 7-year lease remaining on the property. If the applicant is a leaseholder, the applicant must obtain permission from the freeholder.
Who do I contact?
To check the eligibility of your property and proposed project, please contact the Economy & Strategic Regeneration Team at Torfaen County Borough Council on
01633 648809 or email Rebecca.Hartley@torfaen.gov.uk
Posted on: Wednesday 19th February 2020