Cardiff Council is set to lead on a new loan scheme aimed at improving the fire safety of buildings in Wales. The council's cabinet made an in principle decision to develop, operate and administer the Welsh Building Safety Developer Loan Scheme which will provide interest free loans to eligible private developers.
A council report states that the local authority will provide the interest free loan for a period of up to five years so that developers can carry out fire remediation work on buildings of 11 meters or more in height. Councillors said they admired the aim of the scheme, saying improvement works on some buildings was "desperately needed" and "so long coming".
However, there was also concern among those councillors who said the scheme could place the council at risk and turn it into a "vehicle" used by the Welsh Government to lend money. The Welsh Government has made £20 million available for the loan scheme. However, this zero-interest loan will need to be repaid by Cardiff Council in full in April 2028.
