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A campaign group aims to secure a £10,000 grant in its work to save Cardiff’s iconic Coal Exchange, a public meeting has been told.

The Grade II listed building is one of Wales’ most important coal era buildings but there were fears for its future when the company behind refurbishment plans went into liquidation.

An action group was set up by Cardiff South and Penarth MP Stephen Doughty who said he has been overwhelmed with offers of support from the public near and fear.

Speaking at a public meeting held in the Mount Stuart Square building tonight, he said: “People want to see this building brought back into use not only as a historic piece of heritage but bringing back the heart of this whole area.”

Directors of the Save The Coal Exchange Limited company, set up in September, updated the public on their plans.

The not-for-profit company, which has also opened an office, explained how six action groups have been formed to oversee the building and its structure, the building and its future, legal and governance issues, fundraising and engagement.

Kerry Hood, head of the legal and government group, said it is currently in the process of developing an action plan.

She said they would be working to establish “a clear picture of processes” to run the directors’ group.

From a legal aspect she said the building needed a “proper real estate risk assessment for use” in order to protect directors from potential losses.

She said: “Anything we do in relation to the building we need to make sure what the risks are. We need a clear outline of what liability we would accrue if we were to take on ownership.”

Ms Hood told the meeting that inspections of the building have begun to find out where the issues are.

Fundraising efforts are also underway. The meeting heard how the Welsh Government has agreed to fund a survey of the building along with Cardiff council.

Directors also hope to secure a £10,000 funding grant from the Heritage Lottery Scheme to get started on their plans.

Ultimately the company will need to move to become a full charitable trust.

Director Ian Hill said: “One of the things that is clear is we can’t get public funding for the repair of the building without having a sustainable future.

“Once we have done the work the building will need to generate enough money to cover expenses. Then you’re in a very good position to apply for more funding.”

The directors appealed for anybody in a position to help or volunteer to get in touch.

For further details or to become directly involved with the working groups, email atthecoalexchange@gmail.com