Fianna Fáil TD for Louth Erin McGreehan has welcomed €12.6 million in funding for County Louth under the new Towns and Cities Regeneration Investment Fund.
Three projects are set to benefit from significant investment aimed at supporting regeneration, development and new opportunities in towns and communities across the county. These include:
• €7.5 million for Westgate 2040
• €5 million for St Nicholas Quarter Phase 3
• €150,000 for Park Street/Francis Street Regeneration Feasibility Study
Speaking following the announcement, Deputy McGreehan said: “I am extremely pleased to see this level of funding coming for Louth. This has the potential to be a game changer for the projects involved and for the communities they serve.
“I have been delighted to work with and support these projects, and this announcement represents a major vote of confidence in their plans and in the future of our area.
“This investment will help unlock regeneration, support new development and make a difference for the people who live, work and raise their families in these communities.
“I want to thank Minister James Browne for his work in delivering this funding and, importantly, for understanding the potential these projects have and the significant impact this investment can have on the wider area.”
The new Towns and Cities Regeneration Investment Fund, which replaces the Urban Regeneration and Development Fund, will support almost 120 projects across every local authority in the State, with more than €400 million in investment available.
The programme will fund projects including the redevelopment of vacant and underused sites, public realm improvements and community and civic infrastructure. It will support the Town Centre First policy, with a particular focus on regeneration in disadvantaged areas and on strengthening towns and cities as places to live, work and spend time.
Deputy McGreehan concluded: “This funding will have a significant and lasting impact on our communities, and I look forward to seeing these projects now progress.”
For further information, reach out to Erin McGreehan.
ENDS
Notes to Editors:
Projects supported under the Towns and Cities Regeneration Investment Fund fall into two categories.
Category 1A projects will support longer-term projects that will be delivered in the later years of the National Development Plan (NDP), while Category 1B focuses on projects that can be delivered in the short-term with up to €9m available in shared funding for projects that can be on-site by September 2027.
On 5 March last, Minister James Browne, T.D., Minister for Housing, Local Government and Heritage announced a new Towns and Cities Regeneration Investment Fund which, while replacing the Urban Regeneration and Development Fund (URDF), will continue to build on its success to date and apply many of the key criteria established by Government in 2018 for the URDF.
The new Fund will continue to support urban regeneration projects and the development of sustainable communities through the provision of part-funding for applicant-led projects. In doing so, it will significantly contribute to the regeneration and rejuvenation of Ireland’s cities and other large towns, in line with the objectives of the National Planning Framework and the National Development Plan.
