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Following the development of the Maritime Quarter, a joint venture was set up between the WDA and the local authority to implement projects in the centre itself |
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The Welsh Development Agency (WDA) identified Swansea as a ‘town in need’ due to its redundant land and buildings. Following the development of the Maritime Quarter, a joint venture was set up between the WDA and the local authority to implement projects in the centre itself. The WDA funded the acquisition of land where there was multiple ownership. It facilitated derelict building clearance infrastructure and environmental improvements and has contributed to the costs of undertaking an audit of the city centre.
The intervention enabled land to be sold for its real value (even if less than acquisition costs), thus encouraging regeneration. Once the land is sold WDA receives funds back in proportion to its investment. The WDA effectively acts as a development bank, while the initiative for bringing projects together rests with the local authority. |
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