What provision was made in the recent 2019/20 budget to support the Property Development Grant in 2020, 2021 and 2022?
Two Property Development Grants (PDG), with a total value of £4,041,000, were offered and accepted during the past year within the Enterprise Zones. Both developments are expected to commence early 2019.
PDG is a private sector demand led scheme, where eligible applications are received and appropriately appraised for approval. Suitable projects are accommodated, where possible, from within the total available budget. In addition, two specific PDG schemes totalling up to £14m are currently in operation utilising EU funding. Applications have been received and projects are expected to proceed to completion over the next 3 years.