A funding bid for more than £50,000 aimed at completing regeneration efforts in a north-east town will be discussed by councillors next week.
As part of the Fraserburgh 2021 conservation area scheme a number of so-called priority buildings in the port were identified for large scale repairs.
Some property owners said they would like to be part of the project, but could not contribute due to financial limitations.
There are currently four of the developments being held up because of this.
So to help these delayed improvements go ahead a so-called missing shares initiative has been set up by the council’s housing strategy service so the building’s owners can contribute.
The cash would be handed out on the basis of a long-term interest free loan for which a charge would be applied to the property title.
Funds could be repaid at any time, through instalments or when the property is sold.
The housing strategy service have asked for £52,467, which is 10% of the total project cost. The estimated value of the improvements is £525,737.
They would manage and administer the money in partnership with the Fraserburgh 2021 team and would be required to record, monitor and report payments and repayments to ensure that returned funds are reinvested in regeneration projects in Fraserburgh.
A report by Aberdeenshire Council’s infrastructure chief Stephen Archer said the repair work to the buildings in Fraserburgh would not go ahead if the cash was not released.
He said: “Over time, as funds are repaid, proceeds would be ring-fenced for further regeneration work in Fraserburgh.
“Housing Strategy have indicated that if this initiative is successful they may consider widening it across Aberdeenshire.
“The identity of the properties to be supported by this support have been withheld for reasons of confidentiality.
“Without this intervention, these priority properties will not be able to proceed.
“Funds will only be made available to those property owners in priority properties already identified as being unable to finance their contribution and as such it will not be an open fund.”
Members of the Banff and Buchan area committee will discuss the funding bid when they meet on Tuesday.