The Government of the Azores, through the Vice-Presidency, has decided to amend the rules on the Support Line for the Urban Renewal of the Azores by extending this measure to the expansion, alteration and conservation of buildings in the Region. Hence, the support line will now cover more families as well as micro, small and medium companies, and cooperatives.

Published in the Official Journal, the amendments to the Urban Renewal of the Azores programme consider that eligible applicants to this measure, at the date of the submission of the application, are the owners, tenants and individuals with the right of surface occupation of the buildings to be renewed. However, in the latter case, this situation must be certified by the land registry.

With a budget of 50 million Euros, this financial tool is provided in the Azorean Agenda for Employment Creation and Business Competitiveness and is managed by the Society for the Business Development of the Azores (SDEA). It also comprises the operations for the enhancement of the energy efficiency of buildings, the improvement of the accessibility conditions of buildings or the support to the purchase of equipment for citizens with reduced mobility.

The line of credit, which supports Azorean families and companies, provides a bonus spread that can go up to 80 percent and can reach a maximum amount corresponding to 75 percent of the total project cost.

Applications must be submitted to the credit institutions that have signed a protocol with the Government of the Azores for the implementation of this line of credit. All relevant information may be accessed at the following address: http://www.investinazores.com.