The boundary of the government’s Tax Incentive Programme for Urban Renewal for the Corporate Area has been expanded.The programme has also been renewed for an additional ten years.
The application process which is managed by the Urban Development Corporation (UDC), on behalf of the Ministry of Finance, provides tax relief to companies or individuals undertaking improvement works on either land or buildings.
The incentives are offered to both owners and lessees of property in select Special Development Areas identified as suffering blight or decay.
The boundary starts at the Kingston Waterfront from Pechon Street then westerly along the coastline up Greenwich Street off Spanish Town Road, northerly through several roads until it connects with Marescaux Road up to Arnold Road.
The boundary continues down Camp Road to Deanery Road continuing through East Kingston along Wareika Road and Harbour Road to the Shell Refinery in Rockfort and back along the coastline to Pechon Street.
A statement from the UDC says the boundary shift comes as the Special Development Area that was established in downtown Kingston under the Urban Renewal Act expired on September 15, 2015.