James Geoghegan (Dublin Bay South, Fine Gael)
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176. To ask the Minister for Housing, Planning, and Local Government for an update on the establishment of the new town and infrastructure investment fund; to consider ringfencing a certain proportion of the fund for the rejuvenation of Dublin city centre, in recognition of its special role as our capital city; if he will increase the funding available under the living city initiative as per the Dublin City Taskforce report’s recommendation; and if he will make a statement on the matter. [5098/25]

James Browne (Wexford, Fianna Fail)
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A flagship element of Project Ireland 2040, the Urban Regeneration and Development Fund (URDF) was one of four funds established under the National Development Plan (NDP) 2018 – 2027. The URDF fund which was established as part of the NDP in 2018 with an allocation of €2 billion to 2030 is providing part-funding for local authority led projects.

To date, there have been three rounds of funding provided under the URDF with more than €1.9 billion allocated. While Call 1 and 2 were specific urban regeneration and development projects, the latest round of funding (Call 3) is supporting a programme of acquisitions in each local authority to address long term vacancy and dereliction. Under Call 1 and Call 2 there were 132 proposals, comprising of more than 400 individual projects, approved for funding. URDF supported projects are now active in every local authority area in the country.

Specifically, in respect of current funding for Dublin City Centre, just over €179 million has been approved for two major proposals, North Inner City Concept Area 1 (NICCA) and South Inner City Concept Area 2 (SICCA), comprising of 27 projects across both areas.

10 projects, including the Parnell Square Cultural Quarter encompassing the new City Library, have been approved for NICCA, with grant funding of just over €120m.

(The ‘14-17 Moore Street’ project, which was originally part of the NICCA application has moved from Dublin City Council to the OPW as sponsoring agency, along with its funding allocation of €12.17m)

16 projects have been approved for SICCA, with grant funding of €47m.

To date, 1 of the 27 projects has been completed and one is on site. A further 6 have been advanced to such an extent that they could be considered commitments.

Call 3 has been specifically designed to address long term vacancy and dereliction and accelerate the provision of residential accommodation in URDF cities and towns, in support of objectives under the Government’s Housing for All and Town Centre First Policy.

It consists of a €150m revolving fund for Local authorities to remove the financial risk for them of acquiring long term vacant (>2yrs) properties which they would then offer for sale to individuals who in return will contract to bring the properties into residential use. Proceeds from the sale of properties will be used by LAs to replenish their fund for ongoing approved acquisitions.

Dublin City Council has been approved for funding of €10m for the acquisition and onward sale of long term vacant and derelict properties. Dublin City Council has to date expended almost €1m of their €10m fund which sum will be recovered from onward sales.

In line with the agreed Programme for Government, I intend to continue and expand URDF-type investment in projects as part of the new Towns and Cities Infrastructure Investment Fund, which will allow for investment in infrastructure, the acquisition of land, assembly of sites and the de-risking of sites in existing towns and cities to maximise their potential growth.

The detailed arrangements for the implementation of these funding streams are currently being finalised. I plan to make a further announcement on these funds following completion of the National Development Plan Review, when the level of additional capital funding for infrastructure investment is determined