Funding scheme for retailers in Formartine

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A SCHEME aimed at encouraging improvements to retail businesses in Formartine is set to be launched in the New Year.

It is hoped the £60,000 project will help retailers maintain their viability in communities for years to come.

The Formartine Retail Improvement and Enhancement Scheme will get off the ground at the beginning of February and is expected to be completed by March of the following year - depending on take up.

Members of Formartine Area Committee, who gave their support at their meeting last week, heard that the grant scheme is aimed at encouraging and supporting private investment in retail premises throughout the area.

A report by officials stated: “Past experience with similar schemes suggests such investment will more than match the allocation.

“It is also envisaged that business and training advice will be offered to participating businesses to help maintain their longer term sustainability.”

The committee was told the maximum grant award is 50 per cent of the total cost of the qualifying work, up to £5,000.

Subjects to costs, this would allow 15-20 premises to benefit from the fund.

Each application will be considered by a panel from the opening of the scheme on Monday, February 4, through to the closing date of Tuesday, April 30.