ABERGAVENNY could benefit from more than £1 million of funding to redevelop buildings in the town if Monmouthshire councillors agree to accept it.
The county council has been successful in its application for £1.25 million of repayable funding under the Welsh Government’s ‘Vibrant and Viable Places’ initiative.
Cabinet agreed to accept the award on February 4 but final approval is needed from full council.
If accepted, the award will enable the authority to establish a fund that can provide interest-free town centre loans, for a period of five years to enable the redevelopment of redundant sites and premises in Abergavenny town centre.
Deputy leader Councillor Bob Greenland previously said the money, which will be provided interest-free, represented a “first class opportunity” for the town.
Cllr Greenland added: “It’s really a very good news for Abergavenny and I hope we will be able to get schemes coming forward that will help to enhance the town for the future.”
A decision will be made on February 26.
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