Close to €12 million in state aid will be given to the Nicosia and Ayios Dhometios municipalities as part of a four-year Green Line rejuvenation project, Interior Minister Nicos Nouris said on Monday.
Specifically, €11 million will be split into €9 million for the Nicosia municipality and €2 million for Ayios Dhometios.
Another €945,000 in state aid will be given to individuals to strengthen business activities, €700,000 for Nicosia municipality and the rest for Ayios Dhometios.
Nouris said another €50,000 will be given to the municipalities to buy services from an architect to monitor the works. Also, he added €5,000 will be given for the promotion of the projects.
Specifically, the projects in Nicosia will include renovation of the ‘Stoa’ building in the old town, the municipal council building, the Ekate Fine Arts Centre, the former public baths building, Rigainis Street, the municipality building at D’Avila, Laiki Yitonia, the wholesale market by Sopaz, and the CVAR Centre.
In Ayios Dhometios the €2 million will be used to construct a new outdoor amphitheatre, create a cultural centre out of the Demades homes, and create a road around the fields near the amphitheatre.
Nouris said the projects can start at the last on June 30, 2021, due to the coronavirus pandemic.
On the business funds to be given to business owners, he said the plan is to draw new businesses to the areas.
The plan provides incentives to owners or tenants of buildings or land in the areas and beneficiaries of the project can be companies of any size, which will invest in the areas.
He added that the selected funds will include construction work on existing or new buildings, with the aim of either creating a new business or relocating an existing business. Nouris said that extensions of electrical, plumbing and mechanical installations of the building and its construction are also being subsidised.
Nouris said for Nicosia, the sponsorship covers 75 per cent of the eligible budgeted cost of the expenditure, with a maximum financial assistance of €40,000 per business, while for Ayios Dhometios, the sponsorship covers 50 per cent of the eligible budgeted cost, with a maximum financial assistance of €50,000 per business.