Deputy John Deasy asked the Minister for Finance the level of take-up to date in each designated area under the Living City Initiative; and if he has received any assessment from his officials as to why the scheme has not been more successful in view of the ex-ante cost-benefit analysis that was carried out prior to its launch
REPLY | Minister Michael Noonan:
Application for the Living City Initiative (LCI) are only required to be made to the relevant local authority under the residential element of the scheme.
Applications to local authorities are not required to be made under the commercial element of the scheme and thus it is likely to be early next year before information on this aspect of the scheme will become available.
Based on information received from the City and County Councils to date, the number of applications received under the residential element per eligible city is as follows: Dublin 18; Cork 4; Limerick 0; Waterford 7; Kilkenny 2; Galway 2
The Initiative has only been in operation for just over a year, and take-up of the scheme is lower than anticipated considering up to 100% of relevant expenditure may be tax relieved. My officials are currently reviewing the LCI and considering potential changes to the scheme.
Any proposed amendments will be considered in the context of the Budget and Finance Bill.