Newcastle Council will today consider an environmental project, which is hoped will help revitalise the ailing city precinct.

It comes as Councillors were informed last night about the upgrade agreements set to be offered to owners of non-residential, commercial and industrial buildings in Newcastle.

The Environmental Upgrade Project would give these owners access to low-interest loans for water and energy upgrades.

Council has a $200, 000 grant to investigate offering the agreements which would allow a financier to make a loan to a building owner, which will then be repaid through a Council charge.

It’s believed the project could inject new life into the Newcastle CBD.