Details of an innovative new scheme of property tax incentives designed to regenerate both historic buildings and other buildings in Limerick City, Ireland was formally launched on October 25, 2015.
Limerick has been included in the Living Cities initiative, first announced by Finance Minister Michael Noonan in May 2015, alongside Dublin, Galway, Cork, Waterford, and Kilkenny.
The Living City Initiative is designed to regenerate both historic buildings and other buildings, while it also applies in certain ‘Special Regeneration Areas’ to bring life back into the heart of the six participating cities by offering tax relief for qualifying expenditure incurred on the refurbishment or conversion of certain buildings where conditions are met.
“The launch of the Living City Initiative will lead to the further regeneration of Limerick City,” added Mayor Liam Galvin. “This scheme will bring life back into the heart of the city, while at the same time will help to conserve and protect the architectural of Limerick’s oldest residential and commercial properties, including the Georgian Quarter. Furthermore, works undertaken as part of this scheme will deliver employment.”