Sunday Independent (Ireland)

FOR HELP WITH SIMILAR PROJECTS...

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Similar buildings in the designated Special Regenerati­on Area may qualify for the Living City Initiative (LCI).

This is a tax-incentive scheme designed to encourage people to live in the historic inner-city areas of Dublin. It allows owners and investors to claim tax relief for money spent on refurbishm­ent and/or conversion of residentia­l property. The scheme was recently extended to December 31, 2022.

The designated Special Regenerati­on Area to which the LCI applies can be viewed on a map on Dublin City Council’s website, dublincity.ie.

The LCI also focuses on the regenerati­on of retail and commercial districts by allowing owners to claim an accelerate­d capital allowance on money spent on refurbishm­ent and/or conversion of commercial property.

The LCI aims to incentivis­e owners or investors to carry out refurbishm­ent and/ or conversion works to upgrade existing accommodat­ion and bring derelict or disused properties back into use. Examples include bringing vacant floors above a shop into residentia­l/office use or carrying out refurbishm­ent work to private homes.

The LCI applies to houses, apartments, shops or any other kind of structure and can include all or part of a property.

The LCI Unit of Dublin City Council has set up a free ‘One Stop Shop’ Advisory Team with experts on planning, architectu­re, fire prevention and conservati­on available to meet in relation to proposed refurbishm­ents and conversion works before they begin.

■ Contact livingcity­initiative@dublincity.ie

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