Tuesday, 15 October 2013
Extension of the Living City Initiative to include Cork
The extension of the Living City Initiative to Cork will help in encouraging people to live in the heart of the city. It will also boost the local construction industry generating much needed employment.
Over the last few months I have raised the issue of extending the Living City Initiative to Cork with the Minister for Finance. The replies I received to my parliamentary questions and in my discussions with the Minister the responses were encouraging. These positive responses have now been followed by positive action that will deliver real benefits for Cork.
The Living City Initiative is a scheme of tax incentives focusing on the regeneration of historic centres. The tax relief that will apply under this scheme will operate for five years. This will encourage investment in historic city centre properties, turning them into buildings that are suitable for modern residential accommodation.
Cork city centre is ideally suited to being a living city. We have a large stock of historic buildings that are in close proximity to a range of amenities including, parks, restaurants and essential services. Encouraging people to live in the city will breath new life in Cork’s urban centre, I hope that this scheme will deliver a real living city with a vibrant and active community.