Derelict Commercial Properties (Hansard, 21 July 1993)

§ Mr. Redwood

Assistance is available through the urban programme, urban investment grant and the rural initiative capital grant scheme for building conversion schemes.

All local authorities in Wales are eligible to apply for urban programme—strategic development scheme from 1 April 1994—assistance for areas which have been declared by the local authority as commercial or industrial improvement or renewal areas under the enabling legislation. The grants are intended to help stimulate economic regeneration and create or safeguard jobs. Grants are approved through local authorities to a maximum of 50 per cent. of eligible costs, with the private sector applicant meeting the balance. Urban programme allocations to Welsh authorities from 1990–91 to 1992–93 amount to nearly £9 million; assisting the improvement of 912 premises. Urban investment grant is a property grant designed to promote the redevelopment of derelict sites in urban areas throughout Wales. It is available only to the private sector and is designed to bridge the gap between the gross development costs of a project and its end value. Since the scheme's introduction in April 1989 there have been 44 approvals, totalling some £16.3 million grant.

Since 1991, assistance under the rural initiative capital grant scheme has been available to fund a series of social, environmental and economic projects to help create a self-sustaining market economy in rural Wales. Under this scheme in 1991–92 and 1992–93, 11 conversion schemes have been funded.

The Welsh Development Agency and the Development Board for Rural Wales also operate schemes to bring redundant buildings in rural areas back into beneficial business use. To date 473 projects have been assisted by the two agencies, at a total grant cost of approximately £4 million. In 1993–94, the two agencies plan to spend £700,000 on conversion schemes.