LIMERICK City and County Council launched a new scheme to encourage the reoccupation of vacant retail and commercial properties.
The scheme, which has been operational since the beginning of the year and will last until December 31, aims to combat vacancy levels in core retail areas of the city and a number of areas across the county.
Under the scheme, new businesses in the city who meet the eligibility criteria will be able to apply, as well as in the districts of Adare-Rathkeale, Cappamore-Kilmallock, and Newcastle West.
To qualify for the scheme, the property must be vacant for a minimum period of six months on the day the application form is submitted to the Council. The grant is also available where there is evidence of a full year’s rates payable to the Council and tax clearance verification from Revenue.
- External Walls: Up to €8,000 Grant
- Attic: Up to €1,500 Grant
- Cavity Walls: Up to €1,700 Grant
- Internal Dry Lining: Up to €4,500 Grant
Mayor John Moran, said “the revitalisation of Limerick city centre and our key county towns centres around what we’re looking to deliver through the More for Limerick mayoral programme”.
“By supporting earlier occupation of these spaces, we can strengthen our town centres – indeed, not just the city centre but the likes of Abbeyfeale, Kilmallock, Askeaton and beyond – and increase footfall in a way that delivers economic, social and community benefits all across Limerick.
“The contribution of small and medium business are essential for a thriving Limerick and they will not be left wanting when it comes to our support.”
Successful applicants will enter a four-year scheme. Rates must be paid in full by the occupier every year, and only then the grant can be availed of.
They will receive 100 per cent of the grant of the value of commercial rates, subjects to a maximum of €12,000 in year one.
During the second year, they will receive 75 per cent at a maximum of €9,000, 50 per cent at a maximum of €6,000 in year three, and 25 per cent, subject to a maximum amount of €3,000 in the fourth and final year.
The unit must be rated, trading, and not be affected by possible closure or revision of this scheme.
All applications will be subject to review by Limerick City and County Council and any award or otherwise will be at the Councils discretion, the local authority said.