Posted on: Wednesday 19 February 2020
The council is now accepting applications for two new grant programmes aimed at regenerating key buildings with Pontypool Town Centre. Funded by the Welsh Government, the Torfaen Urban Centre Investment Fund supports commercial or mixed-use commercial/ residential building improvement projects with grants of up to £250,000 available.
Grant name: The Urban Property Enhancement Fund
The Urban Property Enhancement Fund supports applicants to physically improve their commercial premises in Pontypool Town Centre. The funding can be used to enhance the physical condition and appearance of buildings, including shop frontages and vacant internal floor space. The aim of the fund is to create jobs, and bring vacant properties and business floor space back into use.
Grant name: The Urban Centre Living Grant Fund
The Urban Centre Living Grant Fund provides 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?
Only businesses and property owners located within Pontypool Town Centre can apply for funding. 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.
There is no set deadline for applying for funding, but all projects must be completed by Wednesday 31st March 2021.
To check the eligibility of your property and proposed project please contact:
The Economy and Strategic Regeneration Team by phoning 01633 648809 or email Rebecca.Hartley@torfaen.gov.uk