NATIONAL monument owners can now seek more financial assistance when undertaking urgent necessary work and repair for their monuments.
From Aug 1, the newly established National Monuments Fund will, under the Preservation of Monuments Board (PMB), co-fund any non-profit or religious organisations.
The fund pool stands at $5 million currently, and $1 million will be disbursed each year from FY2009.
While PMB will co-fund the repair or maintenance work, the grant amount offered to the eligible monument will be at the PMB’s discretion.
The cost of any work done will not be split 50-50 between the owner of the monument and the state since the state should not replace or lessen the duties of the building owners and the community’s sense of ownership.
Thus far, 55 religious, civic, institutional and commercial buildings have been gazetted as national monuments.
The work carried out should be linked to a building’s structural problems or significant structural problems in the architecture’s ornamentation.
The board noted that pre-war buildings in particular would require a greater degree of maintenance and restoration.
Maintenance works and works which have already started do not qualify for funding.
Once accorded the grant, grant holders must submit a maintenance plan and all work carried out has to be executed according to the plan.
The only other recourse monument owners have had since 1994 was the tax exemption scheme for donations to national monuments - it provides double tax exemption for donors who contribute to national monuments for restoration and planned repair works.
Eligible owners can put in their application with supporting documents by Dec 31, 2008.
The award of grants will be announced by March 31 next year.
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