Council cabinet agrees to protocol to release funds
Posted on Thursday 15th June 2017
Funding of more than £2 million could be unlocked for economic regeneration schemes in Newport following an agreement between the council and Welsh Government.
Newport City Council's cabinet has decided the council should approach the Welsh Government to approve a protocol which would release money generated by joint ventures.
Councillor Debbie Wilcox, Leader of Newport City Council, said: "We have a proud record of regeneration in the city but we know there is still much more that could be done.
"Unlocking funds that were generated through the auspices of the former Newport Unlimited will make a significant contribution towards this essential ongoing work.
"It is intended that, with the approval of the Welsh Government, all the funding should be used for economic regeneration activities within the city.
"We want to build a more prosperous Newport by creating and maintaining good quality employment for our citizens, revitalising areas of the city and improving the environment for residents and those who work here."
Newport Unlimited was the urban regeneration body set up by the council and Welsh Government to deliver a regeneration programme for the city between 2003 and 2014.