Current grant schemes contributing to the protection and enhancement of Cork's Built and Natural Heritage being administered by the Planning Policy team are listed below.
Living City Initiative
The Living City Initiative is a tax incentive scheme focusing on the regeneration of designated Special Regeneration Areas of Cork City, to encourage people to live in the historic area of the city and regenerate residential and commercial buildings. These areas have been designated by Order of the Minister for Finance. The scheme provides for tax relief for qualifying expenditure incurred on both residential and certain commercial refurbishment and conversion work that is carried out during the qualifying period. It does not apply to "new build". There are 3 types of tax relief available under the Living City Initiative –
The owner/occupier residential and retail/commercial elements of the scheme commenced on 5 May 2015 and the rented residential element commenced on 1 January 2017. All three elements will terminate on 4 May 2020. In order to qualify for the tax relief, the expenditure on refurbishment or conversion must be incurred within the appropriate period as set out above.
Full details of the scheme can be found here: http://www.revenue.ie/en/tax/it/leaflets/living-city-initiative.html
Examples of how the scheme can work
The following examples of how the scheme may apply to you can be found on the Revenues website (31/01/2017):
Cork City Council assesses and certifies the residential element of the scheme. Applications on commercial properties are assessed and certified directly by Revenue. Full details of the scheme can be found here: http://www.revenue.ie/en/tax/it/leaflets/living-city-initiative.html
Cork City Council can advise if the location of the property and the nature of the works meet the criteria of the scheme. To check if a property in located within the designated Special Regeneration Areas of Cork City, please use the following maps:
For queries email email@example.com