Pontypridd town centre will benefit from a further £25,000 of funding following an announcement by the Welsh Government’s Housing and Regeneration Minister Carl Sargeant.
The investment will allow Rhondda Cynon Taf Council to begin working with businesses in the town centre on the potential development of a Business Improvement District (BID) plans for the town.
This funding will enable the business community to engage in the process of BID development taking the process to a business community ballot. If successful it will mean the establishment of a BID area and the development of a five-year business plan set by the business members themselves.
The Minister said: “I’m pleased that we have been able to support so many prospective BIDs and I look forward to seeing the successful applicants working with local businesses, authorities and communities in order to develop BIDs which can make a real difference to the areas they represent.
“Business Improvement Districts have a good track record in bringing together local businesses and other stakeholders to explore ways of improving the local trading environment. That’s why supporting work to develop more BIDs is a key task in our regeneration framework, Vibrant and Viable Places.”
The total funding of more than £200,000, will be split between nine areas across Wales, selected by the Welsh Government after an application process which saw 14 areas apply.
They were selected through a ranking system, based on pre determined criteria and with an expectation that each area attracts match funding of at least 25% from other sources.
The other areas which have been successful in their application for funding are Bridgend, Caernarfon and Bangor, Llanelli, Neath, Aberystwyth, Abergavenny, Pant and Merthyr Industrial Estates and ColwynBay.
Rhondda Cynon Taf Council’s Deputy Leader and Cabinet Member for Economic Development and Community Safety Cllr Paul Cannon QPM explained, “We are grateful to the Minister for allowing us to develop a sustainable Business Investment District in Pontypridd which will positively impact on such an important town.
“This has come as excellent news to the local authority particularly during this time of austerity. Our work to attract the maximum amount of external funding into the county borough becomes particularly important in the coming years, as the impact of the UK Government’s spending cuts on our own budget continues to hit.”
Pontypridd town centre has undergone a £10.5 million regeneration project thanks to Rhondda Cynon Taf Council. This significant investment into the streetscape and townscape took place following the Council securing financial support from the Welsh Government through the European Regional Development Fund and Targeted Match Funding, alongside Council and private sector contributions.
It was delivered alongside a host of other public and private sector investment programmes including the multi-million pound refurbishment of Pontypridd Railway Station.
For further details visit the Regeneration section of www.loveponty.com