4. Town centre loan fund

The fund is an interest free loan to reduce the number of empty sites and properties. 

Process

The loan is administered by participating local authorities, who cannot use it for their own projects. If you take out the loan you must pay it back to the local authority within 5 years.

Once the loan is repaid, the local authority can use it again to fund new loans and re-invest in similar projects. It must be re-invested 3 times over 15 years.

Eligibility

Applicants can be:

  • social housing associations
  • property developers
  • private landlords
  • businesses