More than £2 million is on offer to help boost Bangor city centre by renovating properties.
A new fund has been launched by Gwynedd County Council to encourage property owners to revamp vacant or empty buildings. A separate loan scheme has also been running over the past two years.
£2.16 million of Welsh Government funding has been allocated to the Property Renovation and Investment Scheme, offering support packages including private investment and grants.
It’s hoped the new fund – supported by the city council and Bangor Business Improvement District – will encourage owners and occupiers to bring vacant floor space back into ‘beneficial use’.
Councillor Ioan Thomas, Gwynedd Council’s cabinet member for economic development, said: ”We are delighted to have secured additional funding that offers Bangor businesses and residents the opportunity to renovate their buildings.”
”The funding will target vacant, under-used properties and buildings requiring renovation within the commercial areas of Bangor city centre with the aim of stimulating investment, employment opportunities as well as contributing to the vitality of the area.”
To launch the scheme, a drop-in event for property owners in the city is being held at the former Burton menswear shop on the High Street next Tuesday (26th March) from 8am to 5pm.
The council’s Empty Homes Team will be on hand to discuss how to convert empty floor space for residential use.
A spokesperson said grants and interest free loans were also available ”to tackle the problem of long term vacancies and improve the quality of housing stock in the private rented sector.”