Distribution of £5 million of downtown revitalization funding begins in Wales

On July 22, 2015, Communities and Tackling Poverty Minister, Lesley Griffiths, set out how the Rhymney (Caerphilly, Wales) town centre will benefit from £500,000 of regeneration funding.

The funding is part of the Welsh Government’s £5 million Town Centre Loan scheme which is also being shared among town centres in Rhyl, Tredegar, Grangetown, Llanelli, Caernarfon and Barry.

The capital funding will be loaned to Caerphilly County Borough Council for up to 15 years to be spent on key regeneration projects in the heart of the town. During this time, the council can recycle and re-invest the funding in different projects which aim to improve the area.

The funding will help commercial property owners in Rhymney to improve empty and underutilised properties to bring them back into use – helping to create jobs in the area.

It will also be used to clean up sites and premises to make them more attractive for private sector investment, reducing the initial financial burden and risk for developers.

Such improvements will encourage economic growth in Rhymney and make it a more diverse, vibrant and attractive place to visit.

Announcing the funding, Lesley Griffiths said: “Town centres play a vital role in community life and this loan funding will help bring about improvements in the areas which need it the most.”

See July 22, 2015 article on distribution of funds.

See February 20, 2015 article announcing funds + photo credit.

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