LORD Mayor of Dublin Mícheál Mac Donncha hosted an event in the Mansion House to promote the revised Living City Initiative (LCI) tax incentive scheme.
The event coincided with a launch which included a new updated guide to the revised tax incentive scheme.
This easy to use guide, developed by the LCI unit in Dublin City Council, will assist property owners and investors to avail of the scheme and encourage the re-use of buildings in designated Special Regeneration Areas (SRA) in Dublin city centre.
The Lord Mayor said: “At the present time when availability of housing has become an even more critical issue for communities, it is vital that Dublin City Council engages actively with property owners and investors to maximise the uptake of available grants and incentives to bring under used properties back into full use.
“This guide is a welcome addition to the information already available to the public on the various schemes that are on offer.”
The LCI tax incentive scheme, introduced in 2015 by the Department of Finance, applies to designated SRAs in Dublin, Cork, Limerick, Galway, Waterford and Kilkenny.
The scheme has been revised to include landlords in order to increase the take-up in respect of rented residential property.
The restriction on the maximum floor size of the property has also been removed, along with the requirement that the property must have been previously used as a dwelling.
The minimum amount of expenditure for refurbishment/conversion works was also amended and now need only exceed €5,000 to qualify for the scheme.