Issue - meetings

Consideration was given to report of the Team Manager Regeneration Opportunities.

The Team Manager Regeneration Opportunities presented the report which provided an update on the current position with the Targeted Regeneration Investment (TRI) Programme and Town Centre Repayable Funding Scheme, and followed the report presented to the Regeneration Scrutiny Committee on 5th March, 2020. The TRI programme was established in 2018 and was originally intended to be a three-year programme (2018-2021).  For the initial three-year phase of the TRI programme a capital budget of £100million funding was made available in Wales, with allocations of the funding dependent upon the quality of the projects, regional significance and approval of the National Panel. TRI funding would not be automatically apportioned equally across each of the ten Local Authorities. Allocation for the South East Wales region was £44million.

The Team Manager confirmed that the report submitted on the 5^th March, 2020 stated that a proposal for additional £5 million capital funding from Valleys Task Force to extend the Cardiff Capital Region TRI Thematic Project in Valleys Taskforce areas had been successful.  However, it had since been advised that this funding would no longer be forthcoming from Valleys Taskforce, but there would be scope to include the projects put forward for this funding within the existing TRI Thematic Programme.

The Officer then went through the report and highlighted points contained therein.  She pointed out that as at the 7^th December, 2020 a total of 91 Expressions of Interest had been received, and 4 applications have been progressed to the stage of delivery at a total cost of £44,731.  In terms of the low number of enquiries progressed to delivery, there were a number of reasons for this, namely:

·        The funding cannot be used to fund works already completed before the grant was made available or a funding approval was in place;

·        The funding can only be utilised for businesses located within one of the Town Centres (Ebbw Vale, Tredegar, Brynmawr, Abertillery and Blaina); and

·        The funding can only be used for external measures to support business recovery (outdoor seating, canopies).

The Officer also reported that funding had been secured to develop a Placemaking plan for Tredegar.  However, this would be subject to procurement over December with the commission commencing in January 2021. The plan would be delivered using the same approach as the Ebbw Vale Placemaking Plan.

A Member asked whether the Loan repayments were being received regularly, and what action could be taken if payments were missed.

The Officer said if the applicant had opted for monthly payment via direct debit and a payment was missed, they would be contacted immediately and given an opportunity to catch up.  However, if payments continued to be missed our normal debt collection procedures would be commenced.  The Officer also explained that one of the conditions of the initial loan agreement was a legal charge on the property to prevent them from selling without the Authority’s permission/agreement, and this would allow us to go  ...  view the full minutes text for item 6