Loan Funding: Council seeking ‘expressions of interest’ for town centre regeneration projects in Flintshire
A local authority has called for ‘expressions of interest’ for loan funding for town centre regeneration projects in Flintshire.
Funding is being provided through Welsh Government’s Transforming Towns Programme and will be administered by Flintshire County Council.
The loan is aimed at town centre property owners and businesses who occupy town centre premises.
The types of project this loan scheme may help includes: bringing empty properties back into use; addressing poor insulation and heating provision in town centre buildings; bringing forward stalled developments that are ready to start on site but have a gap in their funding, and facilitating access to other funding.
Flintshire County Council’s Chief Officer for Planning, Environment and Economy, Andrew Farrow, said:
“These loans will help the recovery of our town centres following the effects of Covid-19. They will provide financial help that can allow improvements and developments to take place where they might not otherwise go ahead.”
The loan interest rate proposed is zero percent for the life of the loan and is subject to an administration fee.
The terms of the loan and the repayment schedule for the money borrowed will reflect the requirements of each project.
Loans can be from two to seven years in length.
The total fund size for use in Flintshire town centres is £840,000.
Subject to fund capacity, the provision will be available for the next 15 years.
As old loans are repaid, new proposals will be assessed for funding.
In the first instance, those interested in the details of the scheme should send a summary of their proposals and contact details to: email@example.com