453 Mr. Perry asked the Minister for the Environment and Local Government if his attention has been drawn to the fact a person (details supplied) in County Sligo has invested heavily in his property and has borrowed extensively on the assurance of getting the tax break in the urban renewal scheme; if the application will be considered; and if he will make a statement on the matter. [21857/99]
It is understood that the person in question developed a building for commercial and residential use in an area designated under the 1994 urban renewal scheme. In order to avail of residential tax incentives under that scheme, the relevant legislation requires that the total floor area of a residential unit must not exceed 125 square metres. As the residential unit on this occasion exceeded the floor area requirements, the residential tax incentives do not apply.
However, the scheme provided a range of incentives for commercial and industrial projects in the designated areas. It is open to the developer to apply for these incentives. No certification is required from my Department prior to seeking such incentives from the Revenue Commissioners.
