Billy Kelleher (Cork North Central, Fianna Fail)
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46. To ask the Minister for Finance the progress of the roll-out of the Living City Initiative; when the designated areas will be identified by local authorities; when the ministerial order will be moved for commencement; and if he will make a statement on the matter. [7106/14]

Michael Noonan (Limerick City, Fine Gael)
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I announced in my Budget Statement that the Living City Initiative, which was enacted in the Finance Act 2013, would be extended to now include the cities of Dublin, Cork, Galway and Kilkenny as well the original target cities of Limerick and Waterford. The inclusion of these four cities within the Initiative followed the results of a thorough independent ex ante cost benefit analysis.

The Initiative will target certain areas of these six cities, particularly those areas which are most in need of regeneration. Those designated areas will be decided upon following consultations with the relevant local authorities and other Government agencies. These consultations have just commenced. It is not yet possible to estimate the number of properties which might be eligible in any of the cities but I have made it clear that I do not see this as a wide-spread Initiative, as it is targeted at those areas which are most in need of attention.

The submission to the European Commission seeking State Aid approval will also be issued shortly. A commencement order will be signed when EU approval is received.