Dáil Éireann Debate, Wednesday - 20 July 2016
101. Deputy Peter Fitzpatrick asked the Minister for Finance if he is considering new applications from towns for entry to the living city initiative scheme; if he will consider Dundalk, County Louth, as a suitable applicant; and if he will make a statement on the matter. [22997/16]
View answerThe Living City Initiative has been in operation for just over a year. To date, take-up of the scheme has been lower than anticipated, considering up to 100% of relevant expenditure may be tax relieved. As a result, the Government is committed to introducing changes to the Initiative to make it more effective. The recently published Programme for Partnership in Government states:
"We will review the Living City Initiative and the conditions that apply to the size of properties in order to boost the attractiveness of the scheme, which will contribute to both built heritage and urban regeneration"
Prior to the introduction of the Initiative, a comprehensive, independent ex ante cost benefit analysis was undertaken by Indecon Economic Consultants.
Analysis is being undertaken, including a review of the initial up-take in order to learn more about how the Initiative could be more effective. The aim is to get the design of the Initiative right so that the Initiative can work in an effective manner. Once that has been achieved, it will then be possible to consider how, or if, the Initiative could be extended to other locations.
