Dáil Éireann Debate, Tuesday - 17 December 2019
731. Deputy Martin Heydon asked the Minister for Housing, Planning and Local Government the annual profile of expenditure of the Project Ireland 2040 urban regeneration fund; and if he will make a statement on the matter. [53731/19]
View answer757. Deputy Dara Calleary asked the Minister for Housing, Planning and Local Government the amount of funding to be allocated to the Urban Regeneration and Development Fund over the lifetime of National Development Plan 2018-2027; the amount allocated in each year over the 2018 to 2020 period to the fund; the amount of funding allocated for each approved project in 2018 and 2019, in tabular form; and the amount issued in payments to date. [53060/19]
View answerI propose to take Questions Nos. 731 and 757 together.
The Urban Regeneration and Development Fund (URDF) is a flagship element of Project Ireland 2040. The URDF was established to support more compact and sustainable development, through the regeneration and rejuvenation of Ireland’s five cities and other large towns, in line with the objectives of the National Planning Framework and NDP. This is to enable a greater proportion of residential and mixed-use development to be delivered within the existing built-up footprints of our cities and towns and to ensure that more parts of our urban areas can become attractive and vibrant places in which people choose to live and work, as well as to invest and to visit.
Through the Fund, successful applicants are being offered targeted integrated support for applicant-led projects that will contribute to the regeneration and rejuvenation of our cities and towns.
The 88 projects approved under the first call offer a good regional spread, and span a number of themes. While the advancement of each project is, in the first instance, a matter for the successful applicant my Department is working closely and actively with them to ensure that the projects receiving URDF support come to fruition as soon as possible. The list of approved projects and details of the allocations are available to view on my Department's website at this link:
https://www.housing.gov.ie/sites/default/files/publications/files/urdf_-_2019_funding_allocations_0.pdf
€58 million was allocated in 2019 to support these projects. Necessary work in putting in place appropriate governance and financial frameworks, has meant that the level of activity was somewhat constrained and this will be accelerated in 2020. Therefore, some €33.5m of the 2019 allocation will be carried over into 2020. Spending in 2019 is currently being finalised and considerable spend within the revised allocation is anticipated.
There is an Exchequer commitment of €550 million for the Fund to support these and other similar projects up to the end of 2022. Under the National Development Plan (NDP) a total of €2 billion will be made available to the URDF up to 2027. Annual expenditure during the lifetime of the Fund is dependent upon expenditure on approved projects and any approved under future calls for proposals, while remaining within the overall funding made available under the NDP. A second call for proposals will issue shortly.
