The Ministry for Tourism, Culture and the Environment and the Ministry of Finance the Economy and Investment has said that the deadline for applications under the ‘Investi f’ Darek’ scheme to promote investment in restoration, conservation and maintenance of privately owned residential properties located within Urban Conservation Areas (UCAs) and Grade 1 and Grade 2 scheduled buildings is being extended up until Friday, the 28th of September 2012.

The scheme, which was launched in February this year is the first in a series of financial incentives announced in the government budget for 2012 with the aim of promoting sustainable urban regeneration. The measures are aimed at promoting sustainable urban regeneration and reversing the trends of residential vacancy, dilapidation and urban decay.

Under this grant scheme, private owners of residential Grade 1 and Grade 2 scheduled buildings and all buildings within urban conservation areas (UCAs) may apply for a rebate on costs of restoration, conservation or maintenance carried out between 1st January 2012 and 30th June 2014. The grant is capped at 20% of the restoration costs up to a maximum of €5,000 per beneficiary. This scheme is being made available to a maximum of 1,000 beneficiaries on a first come first served basis. Only one building per applicant is eligible for support under this scheme.

Eligible expenditure that may qualify for this grant includes the cost of works related to restoration, cleaning and maintenance of the facade, repair or replacement of doors and apertures, repair or replacement of traditional wooden/masonry balconies, paint and plaster works, consolidation and restoration of the internal building structure that includes repair or replacement of ‘xorok’ and timber/steel beams, arches and ‘kilep’, reconstruction or maintenance of roofs and wells.

Costs of materials, labour, hire of equipment, professional fees (the latter include architect’s fees, specialist consultancy, project management costs capped at maximum rate of 5% of the total restoration costs), as well as MEPA permit fees and other government charges that are directly related to restoration would be eligible for the grant.

Under extended deadline, applicants will have until 28th September 2012 to apply for this grant in accordance with the process described in the Government Notice and in the relevant guidance for applicants available from the MEPA website www.mepa.org.mt.

The scheme is being administered jointly by MEPA and the VAT Department. Further information regarding the scheme may be requested by phone on 22901530 or via email on investifdarek@mepa.org.mt.

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