LIMERICK has been awarded significant funding to tackle vacancy and dereliction in the city and county.
Under the latest allocation from the Urban Regeneration and Development Fund (URDF), Limerick City and County Council have been allocated €9million out of a total post of €150million to be awarded nationally.
Limerick’s allocation is the second highest allocation in the country, only behind Dublin.
The funding, coming from the Department of Housing, Local Government, and Planning will be used to activate derelict sites and buildings, and bring them back into use as housing.
Reacting to the announcement, Limerick Minister of State Kieran O’Donnell said that the funding will enable Limerick City and County Council to bring more derelict properties back into use.
“Reflecting the high priority the Government has placed on boosting the accommodation supply and tackling dereliction, local authorities will now be 100 per cent grant aided to fund the acquisition of suitable properties identified within their communities. This programme complements a number of existing schemes to tackle vacancy and dereliction,” he said.
“In particular, this will enable Limerick City and County Council to upscale their work in activating vacant and derelict properties in our City, bringing them into residential use, where people can live.”
URDF funding allows local authorities to purchase derelict properties, and can be used towards any work needed to make the property suitable for re-use or sale.
The fund will then be replenished from the proceeds received from sale or use of a site, allowing a local authority establish a rolling programme to tackle long-term vacancy and dereliction without having to borrow money and take on the associated financial risk.
