A €4m fund has been allocated to Donegal County Council to buy 46 vacant and derelict properties for resale to property developers.
The third call under the Urban Regeneration and Development Fund (URDF) sees 46 vacant and derelict properties identified in Donegal and granted approval under the scheme with the potential to provide a residential yield of 141 homes.
A €4m fund is now available to Donegal County Council to cover the purchase price of properties (residential and commercial) and any minor works required to make the property more suitable for sale e.g. improving access, tidying up, opening up to facilitate inspections etc.
Acquired properties are then offered for private sale to those who in return will commit to bringing the property back into residential use.
Purchasers of these properties are also able to defray the costs of returning them to use by accessing the Vacant and Derelict Property Refurbishment Grant, the SEAI energy efficiency grants or the Repair and Leasing Scheme subject to eligibility.
To date, €142.5M has been allocated across all 31 Local Authorities under Call 3.
Minister for Housing, Local Government and Heritage Darragh O’Brien TD said: “The URDF has been a real game-changer for our towns and cities, breathing new life into towns across making them even better places to work in, to live in and to visit. Urban regeneration isn’t a luxury, but a real necessity for the beating heart of our urban centres and I’m delighted to see it in action across so many counties.
“The most sustainable buildings we have are the ones which already exist and Call 3 under the URDF is ensuring we put them to their best use. The URDF is evidence of this Government’s commitment to improving quality of life in urban centres, making them more accessible, inclusive and liveable for all.”
