First-time buyers of scheduled buildings will be given a 70 per cent rebate on restoration works, thanks to a scheme launched this morning.
The rebate, up to a maximum of €100,000, will cover facade and interior works, balconies, and even some forms of garden works.
First-time buyers of property in Urban Conservation Areas meanwhile will be eligible for a maximum rebate of €10,000.
The scheme, which will start on January 16, has an €18 million cap and is on a first-come first-served basis. Receipts must be provided.
The scheme is also open for private property owners of residences, located within the Urban Conservation Area who wish to carry out restoration and maintenance works on facades and interiors of their old properties.
The owners of such residences can apply for a grant of 70 per cent of the works, up to €10,000. For grade one and two scheduled buildings, the grant will provide a rebate of up to €100,000.
The Irrestawra Darek scheme was launched by the Planning Authority this morning to help with the regeneration of Malta's village core areas. The scheme was first announced by Finance Minister Edward Scicluna in the last Budget.
The planning authority said it had reached an agreement with the Local Council Association to help councils provide residents with a conservation architect.
The authority explained that the funds would cover a wide array of expenses from restoration professionals’ fees, to the renting of equipment and even permits required.
Rebated projects would be closely monitored to ensure against abuse.
The councils’ association has also agreed to waive the fees normally imposed for the placement of scaffolding related to restoration works for up to three-months.
Further information on the scheme can be downloaded from the authority website on www.pa.org.mt.
The authority also announced that the Commuters Parking Payment Scheme fund and the Urban Improvement Fund would now be merged.
The funds for the two initiatives come from the finances raised through development permits and go towards parking and urban improvement projects in the community.
The new merged fund will also be given a further injection of €13 million from the fees generated by the authority from the regularisation process.