Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

As the Senator will be aware, the latest round of funding under the URDF, is very much in keeping with Housing for All and the times we live in. There is a crisis in housing, so urban regeneration serves an important purpose by bringing derelict and vacant units back into use. We expect that the local authorities will use the URDF to purchase old buildings, do them up and sell them on in the main. In that way, they will have a revolving fund. We want this to be a process whereby the councils kick start the process, put a particular framework in place and effectively have a set financing model. The State is giving them a boost. We see this particular round of funding as a kick start for a process that will continue in perpetuity. Some local authorities have it in place. Limerick is developing a model and we want that expanded. The next round of funding that will be available towards the end of the year will go back into the public realm.

The role of the State, through the URDF, is to provide the infrastructure to enable people to bring vibrancy back to urban areas. Where areas are run down and there has been market failure in the private sector, the State steps in and regenerates housing and the public realm. This allows the private sector to flourish, in terms of providing jobs and investment. It also means that people can come and live in these areas. We spoke earlier about the need to reduce the use of private transport for journeys over 20 km-----