Funding for Neath Town Centre Redevelopment
The Council has agreed to accept a proposal for funding from the
Regional Investment Fund for Wales for the Neath Town Centre
The Council has been in negotiation, behind the scenes, for some
time for this regional investment funding known as JESSICA, which
is designed to help fund regeneration schemes such as Neath.
The funding package is designed to bring forward further private
sector investment and to help developments move forward in the
difficult economic conditions facing retailers and retail
development at the present time.
There is still a lot of work required before the funding can be
used for the first phase of the development but it does provide an
opportunity to progress the scheme with Simons Developments, the
Council's preferred developer.
The total funding amounts to £13 million. There is no date
yet for any construction work to start. It will depend on a number
of other commercial arrangements being put in place.
Gareth Nutt, Head of Property & Regeneration said "This is
good news for Neath Town Centre, however, it does not mean the
development will go ahead straight away.
"The Council will continue to work with its
partners to bring forward the development in phases as and when
market conditions allow. This funding will help the Council
to take that opportunity when it arises.
"There is still a long way to go but the Council is determined to
put itself in the best position possible to allow the development