MADEIRA ISLAND - FUNCHAL TOWN COUNCIL EXPROPRIATES BUILDINGS IN NEED OF RESTORATION
The Funchal municipal town council intends to include a series of expropriation measures in its next budget with a view to provide opportunities to investors in the private sector in the restoration of certain buildings in the city’s historic district of “Zona Velha” (Old Town). This announcement was made earlier on this week by the council’s president at the inauguration of a recently restored property by a private local investor. During the last 12 years, 156 properties in the area have been newly restored and upgraded to functionality standards by the private sector.