In this guide
3. Transforming Towns Loan Fund
There is £25 million available across Wales from 2022 to 2025.
The fund is an interest free loan to support projects which reduce the number of empty or underused sites and properties in town centres.
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 the stipulated period - usually 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 2 to 3 times over 15 years.
Eligibility
Applicants can be:
- social housing associations
- property developers
- private landlords
- businesses