The buildings in the Historic Center of Portimão may already receive special financing conditions for works, under the Financial Instrument for Urban Rehabilitation and Revitalization (IFRRU).
Is that the applications for this project are already open.
Under IFRRU 2020 loans are made available, on more favorable terms compared to those on the market, at interest rates below those charged for investments of the same nature, for the full rehabilitation of buildings, intended for both housing and other activities, including solutions more adequate energy efficiency integrated solutions.
And who are the beneficiaries of this funding? Both natural persons and private legal persons (including condominiums and non-profit entities), as well as public legal persons.
For this program, the complete rehabilitation of buildings aged 30 years or over (or in the case of younger age, that demonstrate a level of conservation equal to or less than two) and the rehabilitation of abandoned industrial spaces and units are eligible for this program.
In the case of the municipality of Portimão, since the area of the PARU- Action Plan for Urban Regeneration covers the entire area of the Urban Rehabilitation Area (ARU) «there are no restrictions whatsoever on the use of the buildings, and they can be rehabilitated not only for commercial or collective use equipment but also for residential use», says the Portimão Chamber.
The formalization of candidacies is simple and takes place in three steps, and in order to start it, the Municipal Council should be asked to provide an opinion regarding the location of the property.
To allow the choice of the best solutions to increase the energy efficiency of the property to be rehabilitated, a qualified expert must carry out the Energy Certification and, finally, a loan application can be made with the four banks selected to act under the IFRRU 2020: o Santander Totta, Banco Português de Investimento (BPI), Millennium BCP and Banco Popular Portugal.
For more information, interested parties may contact the Urban Regeneration Division, through the telephones 282 470 864, 282 470 851, 282 470 843 or through the e-mail [email protected]
São Brás de Alportel has also made it known that the buildings in its historic center are able to receive this funding. If you would like more information, send an email to [email protected].
To know the interlocutor of each City Council for the IFRRU, click here
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