Dáil Éireann Debate, Tuesday - 25 September 2018
540. Deputy Fergus O'Dowd asked the Minister for Housing, Planning and Local Government if an application has been received from Louth County Council in regard to urban regeneration funding; if so, the details of same; and when he expects decisions to be made on the projects. [38695/18]
View answerI launched the Urban Regeneration and Development Fund (URDF) in July, 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 URDF 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. The first call for proposals under the URDF is currently open and will run until 28 September. My Department has not as yet received applications for funding. Assessment of proposals will begin once the deadline has closed and decisions will be announced as soon as the assessment process is completed.
Proposals under the Fund, which will operate on a competitive, bid-based Exchequer grant basis, are 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;
- Based on 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.
Detailed information on the URDF and the application process is available at the following links: www.gov.ie/urdf and www.npf.ie/urdf.
