Initiative aiming to encourage projects by private developers
An initiative to encourage private developers to re-generate brownfield sites on the Isle of Man has been approved by Tynwald.
The Island Infrastructure Scheme will see £10million ringfenced by the Department for Enterprise.
From this, incentives of up to 25 per cent could then be paid to developers for eligible development costs.
The motion from Enterprise Minister, Lawrie Hooper, to approve the scheme received fourteen votes in favour and seven against in the House of Keys.
Meanwhile, it received seven votes for and one against in Legislative Council.
MHK's David Ashford, Claire Christian, Tim Glover, Jason Moorhouse, Joney Faragher, Juan Watterson and John Wannenburgh along with MLC Rob Mercer were those against the proposals.
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