A £500,000 Town Centre Loan will support regeneration in Neath Port Talbot, as part of the Welsh Government’s commitment to creating prosperity in valleys communities.
Minister for Housing and Regeneration Rebecca Evans AM announced the loan as she joined the Valleys Taskforce, which is working to deliver real change for the South Wales Valleys. The aim of the taskforce is to create good-quality jobs, closer to people’s homes, improve people’s skills and bring prosperity for all.
Rebecca Evans AM said:
“I am delighted to join the Valleys Taskforce, and I am committed to working with communities across the Valleys to create jobs and opportunities together. The £20 million Town Centre Loan Fund is helping to revitalise communities across Wales and it will have a real impact in the Neath Port Talbot area.
“The Town Centre Loan Fund aims to help bring empty, underused sites and premises in town centres back into use. It supports activities that increase footfall in our town centres, tackle empty sites and help businesses to grow and prosper. Once loans are repaid, the money is used again to fund new loans.”
Neath Port Talbot Council will manage the loan, which is part of the £20 million Town Centre Loan Fund, currently supporting town centre regeneration in 17 local authority areas of Wales.
Llanelli provides an example of the benefits of Town Centre Loans. They have been used to fund the development of a derelict cinema into an entertainment centre, create homes out of derelict properties and to enable the demolition of an old building to create a new property which includes residential and commercial units.