Dáil Éireann Debate, Tuesday - 24 July 2018
2603. Deputy Michael McGrath asked the Minister for Housing, Planning and Local Government if the planned urban regeneration and development fund is a potential source of funding for a road scheme (details supplied); and if he will make a statement on the matter. [32687/18]
Amharc ar fhreagra2604. Deputy Michael McGrath asked the Minister for Housing, Planning and Local Government if a project (details supplied) will be considered for funding under the urban regeneration and development fund when it is released in 2019; and if he will make a statement on the matter. [33260/18]
Amharc ar fhreagraI propose to take Questions Nos. 2603 and 2604 together.
On 9 July 2018, I launched the new Urban Regeneration and Development Fund (URDF) 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, with €100 million available for expenditure in 2019 and an overall Exchequer allocation of €550 million earmarked for the Fund up to the end of 2022.
The first call for proposals under the URDF is therefore now live and will run until end-September 2018. Proposals, including transport and services infrastructure, are invited under this Fund, which 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;
- Involve 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 can be viewed at the following links: www.gov.ie/urdf and www.npf.ie.
I would encourage relevant sectors to adopt a collaborative approach to ensure that the potential of this Fund can be maximised and I look forward to seeing many innovative and ambitious proposals submitted for consideration under this initial call for proposals by the end of September deadline.
