On 5 March last, I announced the new Towns and Cities Regeneration Investment Fund which, while replacing the Urban Regeneration and Development Fund (URDF), will continue to build on its success to date and apply many of the key criteria established by Government in 2018 for the URDF.
The new Fund will continue to support urban regeneration projects and the development of sustainable communities through the provision of part-funding for applicant-led projects. In doing so, it will significantly 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.
The 2025 Programme for Government provided a commitment to ensure towns which fall slightly below the URDF Threshold of 10,000 people are considered for applications under the new fund. In that context, and following a review of the latest Census 2022 data, I widened the scope of eligibility under the new Fund to include towns with a population of over 9,000. The new Fund will also continue to apply to some smaller towns with fewer than 10,000 people where they generate 2,500 jobs.
As set out in Delivering Homes, Building Communities, a further €500 million to 2030 under the updated NDP has been made available for the Towns and Cities Regeneration Investment Fund. The deadline for applications under Round 1 of the new Fund passed on May 1st with proposal assessments currently underway. With a focus on supporting policies such as ‘Town Centre First’ and City Task Forces, the new Fund will deliver transformative and impactful projects that will regenerate eligible areas.
My Department will continue to work closely with local authorities in respect of project development under the Towns and Cities Regeneration Investment Fund. However, responsibility for the composition of applications for funding, including their location, and whether these applications include projects in urban villages, is a matter for the relevant local authority.