Applications for financing projects under the Financial Instrument for Urban Rehabilitation and Revitalization – IFRRU 2020, in the Urban Rehabilitation Areas (ARU) of the various municipalities in the country, including the Municipality of Lagos, are already open, announced the Chamber of that Algarve city.
The Lagos Urban Rehabilitation Area can be consulted by clicking here.
The support to be granted by IFRRU 2020 corresponds to loans with more advantageous conditions for promoters compared to those currently on the market, for the full rehabilitation of buildings, intended for housing or other activities, including the most appropriate integrated energy efficiency solutions within the scope the rehabilitation, with a total investment, per operation, of up to 20 million euros.
These loans are available to all types of beneficiaries, whether natural or legal persons, public or private. For projects that do not have enough guarantee, the IFRRU 2020 also provides, alternatively, a guarantee through the Portuguese Mutual Guarantee System, which is only accessible to companies.
Applications can be submitted to the four banks selected through an international public tender to operate under the IFRRU 2020, namely Santander Totta, Banco Português de Investimento (BPI), Millennium BCP and Banco Popular Portugal. The entity responsible for managing the guarantees is the Portuguese Society of Mutual Counterguarantee (SPGM).
Funding requests are presented at the time that the investor considers most opportune for his investment, with no pre-determined phases for the submission and decision on applications each year, nor limits on the number of funding requests.
In formulating an application for funding within the scope of urban rehabilitation projects in the ARU de Lagos, interested parties must follow three steps:
1. Contact the IFRRU 2020 interlocutor in the Municipality of Lagos for the issuance of a framework opinion for your project and support in the licensing process.
For this, you can schedule a personalized service by telephone: 282 771 706, 282 780 978 or by e-mail: [email protected].
It is advisable to read the answers to frequently asked questions in advance, available at:
https://www.portaldahabitacao.pt/pt/portal/reabilitacao/ifrru/05PerguntasFrequentes.html#03
2. Consult a qualified expert who will carry out the energy certification and help you choose the best solutions to increase the efficiency of the property to be rehabilitated;
3. Apply for the loan over the counter at any of the selected banks.
Through this instrument, the aim is to provide means to revitalize cities, thus contributing to the creation of housing, attracting new residents to urban areas and job creation, stimulating economic activity.
More information on how to prepare the application for funding to IFRRU 2020 is available at:
http://www.portaldahabitacao.pt/pt/portal/reabilitacao/ifrru/02XCandidaturas.html
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