Drogheda Borough Council is pleased to announce a "Business Incentive Scheme to Encourage the Use of Vacant Commercial Premises in Drogheda Town Centre".

An effective way to encourage/assist businesses to occupy vacant shops is to offer a rates incentive scheme based on a phased implementation of charges. This can provide the financial assistance that makes it attractive for new business to consider setting up in areas where there are several vacant shops.

The intent of this policy is to provide an incentive for new businesses to locate in premises that have been vacant for a period exceeding two years and encourage diversity of retail opportunities within a designated area of the town centre.

Objectives of Scheme
• To actively promote the development and enhancement of retail floor space in key areas of Drogheda Town Centre most visibly affected by the economic downturn.
• To enhance the vitality and viability of the Town Centre and commercial well-being of the town.
• To support the continued role of the town centre and its primacy in the retail hierarchy.
• To encourage new businesses to occupy commercial premises/shops which have been vacant over an extended period of time.
• To encourage diversity of retail opportunities within the principal streets affected within the town centre of Drogheda as defined in the Draft Drogheda Development Plan 2011-2017.
• To provide limited financial assistance to make it more attractive for new businesses to establish in areas where there are several vacant shops.
• To provide rates income to Drogheda Borough Council that otherwise will be written off.
• Job Creation and Employment

Eligibility Criteria for the Grant Assistance against Commercial Rates
• Any premises which have been vacant for more than two years would be eligible for a grant of 50% of rates in year one and 25% in year two.
• Two years would be the maximum allowed for the grant regardless of the time the premises has been vacant.
• In year 3 the full amount of the rates due must be paid in that financial year
• Conditional on a minimum of a three year lease being signed by the new occupier. Evidence of lease to be provided to Drogheda Borough Council.
• Landlord/Agent must offer to match reduction on buildings rent for first 2 years.
• The scheme shall not apply to any business or person who owes money to Drogheda Borough Council at a previous location.
• The scheme shall apply to the authorised use of a premises only (i.e. where there is unauthorised development or ongoing enforcement under planning legislation this should be regularised in advance of any incentive being applied).
• All applications will be reviewed and decided on an individual basis

For full details please CLICK HERE