Regional Law N° 36/88 - incentives for the modernization, strengthening and qualification of tourist facilities in Lombardy
The Credito Valtellinese, the Credito Artigiano, Region Lombardy and Finlombarda SpA have recently renewed the agreement on Law N° 36/88, which regulates any initiative undertaken by the Region Lombardy in order to help the development of tourism, as well as the requalification and modernization of tourist facilities by individuals, companies involved in tourist activities and in the hotel system, local governments, local authorities and associations.
Such initiatives also include the purchase, building, rebuilding, adjustment, finishing and modernization of real estate intended for hotels, hotel-villages, motels, residences, campsites, tourist villages, holiday houses, mountain refuges.
The expected facilities are as follows:
"capital account" financing up to 50% of the costs sustained, however not over € 100,000 for the next three years; "interest rates abatement" financing concerning financing allowed by the bank up to 70% of the investment, however not over € 2,582,284.50 for a period of 15 years at the most
The above-mentioned grants will be given in accordance with the following regulations:
fix rate: the amount of the IRS depending on the period of the financing plus an overall 1.25% annual spread varying rate: the amount of the 3-6 month EURIBOR plus a 1.50% annual spread
For further information and for any problem which could arise in filling out the forms, apply to the nearest Credito Valtellinese Group branch office in Lombardy.
