PROJECT 2040

Dundalk eligible for new urban regeneration funding

59 towns and cities nationwide have a pot of €2 billion to apply for

Barry Landy

Reporter:

Barry Landy

Email:

barry.landy@dundalkdemocrat.ie

Dundalk eligible for new urban regeneration funding

Dundalk could be in line for in injection for a major project

Dundalk could be in line for some of the €2 billion investment pot announced by the government today as part of new funding through Project Ireland 2040. 

The town is one of 59 towns and cities nationwide, alongside neighbouring Drogheda, that are eligible to receive funding for projects through the new Urban Regeneration and Development Fund. 

As part of Project Ireland 2040, Taoiseach Leo Varadkar and Ministers announced today that the government are to set up four new funds to, they say 'deliver better cities, better rural towns and communities, fund new technology and look at how we can combat climate change and effectively respond to the huge challenge it poses.'

€2 billion will be made available for for urban regeneration, €1 billion for the Rural Development Fund, €500m in the climate action fund and a further €500m in the disruptive technologies fund

"This funding is a positive step for our towns and villages in Louth and for the wider county. The €2 billion Urban Regeneration and Development Fund will encourage greater stakeholder contributions than we’ve had in the past," Louth TD Fergus O'Dowd said today. 

An initial call for proposals is intended to be made before the end of June 2018, allowing a 14 week period for development of applications with a targeted closing date at end September 2018. 

“This is part of a longer term plan which delivers the resources to make our new planning framework come alive. Our hope is that this new funding model will move beyond politics and hopefully see more community driven initiatives."

He wants communities and Louth County Council to work together to develop projects worthy of securing major funding. 

“This fund will act as a driver of development and it is essential that Louth County Council and our community groups apply for all the funding available to them."

His Fine Gael colleague Peter Fitzpatrick concurs. "I strongly encourage local communities and Louth County Council to work closely on applications for Urban Regeneration and Development Fund," he said. 

"The fund will encourage collaborative approaches between departments, agencies, Local Authorities and other public bodies, and the private sector where appropriate, to pool their assets and work with communities to transform our rural towns and villages and their outlying areas. 

The government say there are a wide range of projects that will be eligible for this regeneration and development funding - including the acquisition, enabling and/or development of areas, sites and buildings, relocation of uses, public amenity works, community facilities, transport, services infrastructure and/or transition to a low carbon and climate resilient society, in an urban context.