The aim of the project “Establishment of Infrastructure for the Development of Infrastructure for the Development of Business in Pils Street, Ventspils” (hereinafter – Project) is Ventspils City Council Authority “Community Administration” (hereinafter – KP).The aim of the project is to restore degraded territory in the territory of the city’s historical building in Pils Street, Ventspils, by creating an infrastructure for commercial development and thus ensuring environmentally friendly and environmentally sustainable urban development and promoting the creation of new jobs. The main planned activities of the project are the reconstruction of two buildings in emergency condition, which includes the construction of internal and external communications and the creation of the territory improvement in the land plot with the address “Pils iela 45” – an area for which the status of degraded territory has been defined in accordance with the Ventspils City Development Programme 2014-2020 appendix “Investition Plan”. Moreover, within the framework of the project, the renewable area is located in the territory of Ventspils historical centre, which has been defined as a monument of state importance, as well as in the protection zone of the archaeology monument of national importance – Ventspils ancient town.The most important expected results of the project and the benefits of its implementation: restoration of degraded area in an area of 0,15 ha (1527 m²); Creation of multi-functional office space for a potential investor with a total area of 846 m²; – creation of at least 37 new jobs; Non-financial investment in commercial infrastructure – EUR 300000; – the main quantifiable economic benefits for society are related to the income of the population caused by the newly created jobs.The total planned cost of the project is EUR 2132475,20 excluding VAT, including eligible costs EUR 2079692,97 and ineligible costs – EUR 52782,23. The planned European Regional Development Fund (hereinafter – ERDF) co-financing is EUR 1726264,34 or 83.006 % of the eligible costs, the state budget grant is EUR 60926.98 or 2.930 % of the eligible costs, the total financing of the project is 292501 % of the eligible costs and the city is 83,006 % of the eligible costs, the state budget grant is EUR 60926.98 or 2.930 % of the eligible costs, the municipalities are eligible costs of 292501 % and Ventspils. The planned duration of implementation of the project is 22 months, it is planned to start on March 1, 2019 and to be completed by 31 December 2020.