Gwynedd Council has established a £500,000 fund to renovate buildings located in the centre of Bethesda and Penygroes.
This follows the Council’s successful bid from the Welsh Government’s Vibrant and Viable Places Town Centre Loans Fund. The scheme extends the fund that has been in place for Caernarfon town centre since November 2015 and Bangor City centre since March 2017 with a number of property owners using loans to improve the condition of buildings in the area.
As part of the scheme in Bethesda and Penygroes, property owners can submit bids to the loans fund for completing improvements to properties for long term ownership, to sell, to let, or to make use of an empty site. Improvements can include making residential properties safe, warm or more secure.
Councillor Ioan Thomas, Gwynedd Council Cabinet Member for Economic Development said:-
“We’re delighted that we have been able to secure funding for the loans fund in Bethesda and Penygroes. As a Council, we have been working closely with partners over the years to ensure economic regeneration, and these loans will certainly have a positive impact, and allow businesses and residents to improve and renovate buildings in the centre of Penygroes and Bethesda.
“It is also great news that the fund works on a recyclable basis which means that once the money is repaid, it will be used again to fund new loans. We would urge anyone who believes they may be eligible to contact the Council’s business support team, and officers will be on-hand to advise you about the fund.”
Rebecca Evans AM, Minister for Housing and Regeneration said:-
“The Welsh Government Town Centre Loans Fund is helping to bring underused sites in town centres back to life. It supports projects to increase footfall on our high streets, tackles empty sites, and helps help businesses in towns like Bethesda and Penygroes to grow and to prosper.
“I look forward to seeing this investment having a real impact locally.”
For further information about the fund, contact the Gwynedd Council Business Support Unit on 01286 679231, e-mail firstname.lastname@example.org or visit the GwyneddCouncil website for further information.