THE company that runs Ebbw Vale Institute will apply for £660,000 worth of lottery funding to complete the refurbishment of the Grade II listed building.

Social enterprise agency ProMo-Cymru reopened Ebbw Vale Institute (EVI) - which is the oldest institute in Wales - in March 2009 following a £290,000 refit using cash from the Assembly.

But ProMo-Cymru chief executive Marco Gil-Cervantes told the Argus they are now seeking a total of £660,000 from the BIG Lottery community asset transfer programme, which would enable them to take over ownership of the building from Blaenau Gwent council, and complete its refurbishment.

Mr Gil-Cervantes said: "We've come a long way since it was derelict, but what that would enable us to do is finish off the work we have already started, and have a fully functional Ebbw Vale Institute."

He said the cash would help to kit out one of the best music studios in Wales, a dance rehearsal room, video conference facilities and a refit for the institute's bar.

The funding will also help to restore parts of the building, which dates back to 1849, which need special materials because the institute is listed.

EVI already employs two and a half full time staff, and this could go up to five if the next round of funding is approved.

The bid for £370,000 in capital funding and £290,000 in revenue funding will be submitted on May 20, and ProMo-Cymru hope to hear whether they have been successful in October.

Blaenau Gwent council has agreed that if the bid is given the go-ahead, ownership of the institute will be transferred to ProMo-Cymru at no cost, although the authority will still own land at the back of the building which been earmarked for a car park and events areas as part of improvements to Church Street.