Blackwood And Risca To Be Included In The Town Centre Loans Fund

Plans to include Blackwood and Risca town centres in the Welsh Government’s Town Centre Loans Fund have been recommended during a recent meeting of Caerphilly county borough’s Cabinet members. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The Welsh Government has confirmed that the Town Centre Loans Fund can be extended to include Risca and Blackwood town centres as well as its existing town centre, Rhymney, which received a £500,000 investment into its town centre following a successful funding bid by Caerphilly Council’s Urban Renewal Team. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The Welsh Government’s Town Centre Loans Fund provides “interest free” Welsh Government loans to Local Authorities for a maximum period of 15 years, with loans being recycled every five years until the specified repayment date in 2031. The loans provide capital funding to towns located within the Welsh Government’s Tackling Poverty Fund areas for key regeneration projects. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The Town Centre Loans Fund aims to reduce the number of vacant, underutilised and redundant sites and premises in town centres, as well as supporting the diversification of town centres by encouraging more sustainable uses for empty sites and premises, such as residential, leisure and other key services. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Cllr Ken James, Cabinet Member for Regeneration, Planning and Sustainable Development said: “I am delighted that the Welsh Government’s Town Centre Loans Fund has been extended to include Risca and Blackwood. It is hoped that this investment will provide a number of benefits to Rhymney, Blackwood and Risca including supporting job creation, providing economic growth and increasing the supply of quality accommodation”. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​