The Urban Regeneration and Development Fund (URDF) is a flagship element of Project Ireland 2040, with €2 billion identified in the National Development Plan (NDP) to 2027. Of this, €58m is available in 2019 to provide initial support for the 88 projects approved for URDF support last November, while €550 million is included in the NDP to provide further support for these and other similar projects up to 2022.
Bids were invited from public bodies throughout Ireland for funding under the URDF and a total of 189 applications were received by my Department under the first call for proposals. On 26 November 2018, initial URDF support of €100m was provisionally allocated to a total of 88 projects throughout the country.
As part of this first tranche of approvals, Cork County Council was awarded initial URDF support for a number of projects including €1,875,000 towards the development of a strategic site as part of a programme to elevate the Passage West area.
While the progression of successful proposals under the Fund is a matter, in the first instance, for the relevant applicant, my Department has been actively engaging with successful applicants on the detailed progression of all successful proposals. At a recent meeting with Cork County Council, my Department was informed by the Council that it was no longer proceeding with this particular proposal for Passage West, as the site concerned is no longer available. It is a matter for the Council, in the first instance, to consider possible alternative proposals that may be submitted for consideration for future funding approval.