Dáil Éireann Debate, Tuesday - 10 July 2018
943. Deputy Richard Boyd Barrett asked the Minister for Housing, Planning and Local Government the details of the new €2 billion urban regeneration and development fund, URDF; his views on its potential to deliver affordable homes; and if he will make a statement on the matter. [30728/18]
View answer944. Deputy Richard Boyd Barrett asked the Minister for Housing, Planning and Local Government if he will report on the information session on the urban regeneration and development fund held on 9 July 2018 for local authorities; and if he will make a statement on the matter. [30729/18]
View answerI propose to take Questions Nos. 943 and 944 together.
A new Urban Regeneration and Development Fund (URDF) was announced as part of Project Ireland 2040 to support the compact growth and sustainable development of Ireland’s five cities, regional drivers and other large urban centres. The funding is designed to leverage a greater proportion of residential and commercial development, supported by infrastructure, services and amenities, within the existing built-up areas of our larger urban settlements.
My Department has responsibility for implementing the URDF, which has an allocation of €2 billion over the 10-year period of the National Development Plan (NDP) to 2027, with €100 million available for expenditure in 2019 and an overall allocation of €550 million earmarked for the Fund up to the end of 2022.
On 3rd July, I announced the first call for proposals under the URDF. The application process will run until end-September 2018. The Fund will operate on a competitive, bid-based Exchequer grant basis, with proposals being required to demonstrate that they will be:
- Innovative and transformational urban regeneration projects;
- Public-sector led and with the option of community and/or private sector partners;
- Matched by at least 25% direct funding from other public and/or private sources;
- A minimum bid of €2m;
- A catalyst for development that would not otherwise occur; and
- Likely to leverage significant further public and private sector investment.
This Fund has enormous potential to deliver more affordable homes as part of the redevelopment and revitalisation of urban core areas, and my Department would welcome proposals addressing measures to improve housing affordability, in addition to a range of proposal types in the context of urban regeneration and development. I would urge eligible public sector organisations to avail of the opportunity through collaboration and making best use of the skills and talent available to design creative and innovative proposals.
The information seminar which my Department organised yesterday, 9 July 2018, and which I attended, was aimed at providing some policy context and more detailed guidance on the Fund for potential lead partners from Local Authorities, Regional Assemblies and Government Departments and to provide clarity on any queries arising, to ensure that we can maximise the potential of the available funding to help meet the National Strategic Objectives set down in the NPF, both in 2019 and over subsequent years. I am greatly encouraged by the level of engagement and interest of all who attended and I look forward to seeing funding applications for proposals that are innovative, ambitious and collaborative and that are capable to delivering on the key objectives.
My Department will monitor the process in relation to the Fund and will consider the issue of further guidance in light of the level of queries that may emerge throughout the application period. My Department will also consider facilitating further information-sharing events with local authorities and other stakeholders over the summer months, as appropriate.
Detailed information on the URDF and the application process can be viewed at the following links: www.gov.ie/urdf and www.npf.ie.
