Dáil Éireann Debate, Tuesday - 24 July 2018
2682. Deputy John Curran asked the Minister for Housing, Planning and Local Government the amount of the €2 billion urban regeneration and development fund that was drawn down in 2016, 2017 and to date in 2018; and if he will make a statement on the matter. [33664/18]
Amharc ar fhreagraOn 30 May 2018, An Taoiseach, along with myself and relevant Ministers, announced €4 billion in funds available under Project Ireland 2040 for rural development, urban regeneration, climate action and technological innovation, the details of which can be found on-line at the following link:
https://merrionstreet.ie/en/News-Room/News/Government_launches_four_funds_for_rural_development_urban_regeneration_climate_action_innovation.html.
The announcement includes the establishment of a €2 billion Fund for urban regeneration and development purposes, focusing on cities and towns in excess of 10,000 in population. The Urban Regeneration and Development Fund (URDF) will secure more compact, sustainable growth in Ireland’s five cities and other large urban centres.
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 an overall Exchequer allocation of €550 million earmarked for the Fund up to the end of 2022. The first tranche of €100 million will be available for expenditure in 2019. Accordingly, no funding has been drawn down to date.
The URDF will be a competitive, bid-based programme, that will operate on a multi-annual basis over the period to 2027. The first call for proposals under the URDF is now live and will run until end-September 2018. Proposals 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;
- 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.
