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£500k funding approved for Caerphilly regeneration projects

Additional funding of over £500,000 has been agreed to support several regeneration projects in the Caerphilly county borough.

The funding was unanimously approved by Caerphilly County Borough Council’s Cabinet, during a remote meeting held on Wednesday (11th November).

The investment, which forms part of the Regeneration Project Board Development Fund, will be used to support previously agreed projects including improvements to town centres in response to Covid-19, the regeneration of Caerphilly town centre, funding to help unlock  Plateau 1 Oakdale Business Park for development, a contribution to the refurbishments to Caerphilly Workmen’s Hall & Institute, and funding to explore the feasibility of a proposed Solar Farm.

During the meeting Cabinet members were also provided with an update on initiatives delivered as a result of the Regeneration Project Board Development Fund, which to date are estimated to potentially leverage around £98million additional investment into the county borough.

Cllr Sean Morgan, the Council’s Deputy Leader, said “The additional allocation of funding will enable us to progress with a number of previously agreed projects at sites throughout the county borough.  As well as the opportunity for physical regeneration, these projects offer a wealth of much wider benefits including the creation of employment opportunities and economic resilience for the county borough.”

Cabinet members also agreed the implementation of a streamlined approval process for the Targeted Regeneration Investment (TRI) Thematic Grants Programme and the re-purpose of previously agreed funds for Oakdale Business Park Plateau 2 & 4 towards Council owned land at Caerphilly Business Park.