Urban Renewal Act, 1998
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Recommendations in respect of qualifying areas for the purposes of urban renewal tax reliefs. |
8.—(1) An integrated area plan submitted to the Minister under section 7 may contain, or be accompanied by, recommendations by the local authority or authorised company concerned that— | |
(a) a part or parts of the area to which the plan relates ought to be a qualifying area for the purposes of one or more sections of Chapter 7 of Part 10 of the Taxes Consolidation Act, 1997 , | ||
(b) the whole of such an area ought to be a qualifying area for the purposes of one or more of the following sections of the said Chapter 7, namely sections 372G, 372H and 372I. | ||
(2) In making any recommendation referred to in subsection (1), the local authority or authorised company concerned shall have regard to the following matters— | ||
(a) the consistency between the types of development that are likely to be carried out in the area or areas to which the recommendations relate (“the relevant types of development”) and the relevant objectives of the integrated area plan, | ||
(b) the significance of the recommendations for the attainment of the objectives of the integrated area plan generally, | ||
(c) the market conditions in the area or areas concerned as respects the supply of, and current and anticipated demand for, the relevant types of development, and | ||
(d) the nature and extent of any impediments to the carrying out of the relevant types of development. |