Gerry O'Sullivan
Ceist:42 Mr. G. O'Sullivan asked the Minister for the Environment the action he proposes to take to consolidate the developments in the urban renewal designated areas; and if he will make a statement on the matter.
Written Answers. - Urban Renewal.
The urban renewal scheme has been particularly successful in encouraging private sector investment in designated areas. In these areas, projects with an estimated value of £64 million have been completed while projects with an estimated value of £152 million are in progress. Further projects with an estimated value of some £190 million are at planning stage.
In order to build on the success of the scheme, I announced on 1 May last details of extensions of the existing designated areas of Dublin, Cork, Limerick, Waterford and Galway as well as new designations in the towns of Ballina, Bray, Carlow, Clonmel, Drogheda, Ennis, Longford and Portlaoise. Earlier this year, the time limit for the urban renewal tax incentives was extended by two years to 31 May 1993.
Last year a new scheme of urban renewal grants was introduced to finance local authority works directed at upgrading the general environment of the designated areas. These works are designed to complement private sector development already undertaken and to enhance the possibilities of further developments. A sum of £2.5 million has been provided for these grants in 1990.
I am confident that with these initiatives, the improvement in the economy generally, and effective promotion by local authorities, the urban renewal scheme will enjoy considerable further success.