LIMERICK is to benefit from a new urban regeneration incentive which focuses on the regeneration of the historic centres of six cities, also including Cork, Dublin, Galway, Kilkenny and Waterford. The Living City Initiative is a scheme of property tax reliefs which applies in certain “special regeneration areas” (SRAs). There are two types of relief including an owner/occupier residential element and a retail/ commercial element. Finance Minister Michael Noonan said that the aim of the Living City incentive is to bring life back into the heart of the cities by offering tax relief for qualifying expenditure incurred on the refurbishment or conversion of certain buildings.”
Advertisement
