Prague to provide financial assistance to Prague 10 district to refurbish the local authority’s offices

Prague to provide financial assistance to Prague 10 district to refurbish the local authority’s offices


9/7/2020

At their session today, Prague councilors agreed to provide financial assistance to Prague 10. The district had asked for an interest-free loan of 500 million CZK to refurbish its Town Hall which has long been in bad condition. The financial assistance is yet to be approved by the Prague City Assembly.

The Prague 10 Town Hall building dates from the 1970s and the district is expected to start refurbishing it in the second half of next year. Along with the construction works, the district is planning its biggest investment initiative ever – the total cost of the refurbishment is expected to reach close to a billion crowns (the exact amount is to be announced once the construction project is ready). That is why Prague councilors agreed to provide financial assistance to the district in the amount of 500 million crowns. The decision is subject to approval by the City Assembly.

The financing scheme includes money from the Operational Program Environment, which is going to provide a subsidy of 219 million CZK.

The financial assistance should go only towards the refurbishment. Other costs, mainly those associated with the temporary relocation and operation of the district authority in substitute premises, are to be borne by the authority itself. The same applies to the interior.