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Major new urban regeneration fund opens for business in Ireland

Words: Roger Milne
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The Irish Government has launched its urban regeneration fund, which is designed to drive the rejuvenation of strategic and underused areas in Ireland’s five cities and largest towns.

In total, €100 million will be available for expenditure in 2019, with €550 million to be allocated up to the end of 2022.

The fund 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 per cent direct funding from other public and/or private sources;
  • involve a minimum bid of €2 million;
  • a catalyst for development that would not otherwise occur; and
  • likely to leverage significant further public and private sector investment.

Housing and planning minister Eoghan Murphy explained: “This fund is about backing better and more coordinated planning for future generations in a way that meets the needs of our growing population and economy more sustainably, by reimagining and turning around the all-too-frequent sight of empty or run-down or poorly utilised areas in the centres of our cities and larger towns.

“With this fund, we can now choose a better way to live and work and enjoy leisure time and go for real quality of life, making quality places rather than creating more commuting and urban sprawl.”

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