A flagship element of Project Ireland 2040, the €2 billion Urban Regeneration and Development Fund (URDF) is supporting a programme of significant transformational capital projects that will contribute to the regeneration and rejuvenation of Ireland’s cities and other large towns, in line with the objectives of the National Planning Framework and the National Development Plan.
To date, there have been three rounds of funding provided under the URDF which has resulted in the allocation of €1.9 billion of funding, with URDF supported projects now active in every local authority area in the country.
Under Calls 1 and 2 there were 132 proposals, comprising more than 400 individual projects, approved for funding. The latest round of funding (Call 3) is supporting a programme of acquisitions in each local authority to address long term vacancy and dereliction.
The agreed Programme for Government included a commitment to establish a new Towns and Cities Infrastructure Investment Fund to:
• invest in infrastructure, acquire land, assemble sites, de-risk sites;
• support the development of new transport orientated development towns as necessary; and
• continue and expand URDF (Urban Regeneration and Development Fund) investments in project to regenerate the public realm.
Following publication of the National Development Plan Review in July, allocations to programmes and subheads, including the level of additional capital funding to support these commitments, will be determined in the coming weeks. This will enable the detailed arrangements for the implementation of these funding streams to be clarified further.
While, my Department will work closely with local authorities in respect of project development under these funding streams, it should be noted that responsibility for the composition of any applications for funding and their advancement through the various stages of planning, development and completion will be, in the first instance, a matter for the relevant local authority.