APPLICATIONS are pouring into City Hall for the city council’s Rental Incentive Scheme for vacant property in the city. Welcoming the favourable response, Mayor Maria Byrne says the scheme will provide a positive impact on the city centre. “The take-up will reduce the number of vacant premises and improve the overall retail offer in the city, which will in turn positively enhance the economic vitality of the city centre, both for existing and new businesses,” she said.
Approved by city council just recently, the scheme offers incentives for the encouragement of higher retail uses on key city streets, to address the vacancy issue and grants are being offered as a contribution towards the fit-out of shops, particularly vacant premises on: O’Connell Street, Rutland Street (to specifically include the Opera Centre site) William Street, Shannon Street, Roches Street, Catherine Street, Little Catherine Street, Henry Street, Liddy Street, Sarsfield Street, etc.
The council’s preference for suitable outlets include: fashion stores, lifestyle stores, flagship shops and niche/specialist retailers such as home furnishing, beauty products, jewellery and books.
“A clustering of these uses, particularly at basement, ground and first floor level will help to develop a vibrant retail quarter and the grant relief for the first year is based on certified fit out costs, subject to a maximum of 50% of the annual rates liability for the first year.”
“In the second year grant relief will be based on original certified fit out costs, as submitted in the first year, subject to a maximum of 25% of the annual rates liability for the second year.”
Other streets included in the city centre scheme include: Honan’s Quay, Denmark Street, Cruises Street, Todd’s Row, Chapel Street, Bedford Street, Thomas Street and the north-east half of Patrick Street.
