Planners to extend Cork City renewal project

Cork’s city planners have sought ministerial approval for the major extension of a tax break scheme designed to promote regeneration and city living, and to include the city’s main shopping and office districts.

They have asked Finance Minister Michael Noonan to extend the boundary of the Living City initiative to include St Patrick St and the South Mall, as well as Blackpool village, and the St Luke’s, Military Hill, and O’Mahony’s Avenue areas.

The initiative, which was announced in last October’s budget, and which will be open until 2020, is designed to encourage city centre living and promote regeneration of residential and commercial buildings in designated areas. The residential element provides an income-tax deduction for qualifying expenditure incurred on refurbishment or conversion of a building, built before 1915, in the designated areas, for use as a dwelling over a 10-year period.