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15/06/2016
Govt Approves €200m Local Infrastructure Fund
The Government has approved the establishment of a €200 million Local Infrastructure Fund.
The fund will provide public off-site infrastructure to stimulate an increase in private housing in Dublin and in urban areas of high demand for housing.
The Minister for Public Expenditure and Reform, Paschal Donohoe and Minister for Housing, Planning and Local Government Simon Coveney welcomed the government's approval.
Minister Donohoe said: "We urgently need to take action to remove impediments to the supply of private housing so that we can make more rapid progress towards achieving our target output of 25,000 houses per annum to meet housing needs. The €200 million fund which we are establishing will help to activate existing planning permissions for large scale housing developments and should facilitate in the region of 15,000 to 20,000 new houses and apartments. I would urge local authorities and developers to take advantage of this opportunity to cooperate closely on the ground and to provide much needed housing which the availability of this fund for the next few years presents."
The fund is a doubling of the one provided for in the Programme for Government which committed to re-prioritising the capital programme to put in place a new €100 million Local Infrastructure Fund, from which local authorities could deliver local projects needed to unblock land in high demand areas. Local authorities can use the new fund to provide access infrastructure such as distributor roads, bridges, surface water management, amenities and utility diversion to facilitate the opening up of private development on major housing sites and to significantly increase the supply of housing.
(MH/LM)
The fund will provide public off-site infrastructure to stimulate an increase in private housing in Dublin and in urban areas of high demand for housing.
The Minister for Public Expenditure and Reform, Paschal Donohoe and Minister for Housing, Planning and Local Government Simon Coveney welcomed the government's approval.
Minister Donohoe said: "We urgently need to take action to remove impediments to the supply of private housing so that we can make more rapid progress towards achieving our target output of 25,000 houses per annum to meet housing needs. The €200 million fund which we are establishing will help to activate existing planning permissions for large scale housing developments and should facilitate in the region of 15,000 to 20,000 new houses and apartments. I would urge local authorities and developers to take advantage of this opportunity to cooperate closely on the ground and to provide much needed housing which the availability of this fund for the next few years presents."
The fund is a doubling of the one provided for in the Programme for Government which committed to re-prioritising the capital programme to put in place a new €100 million Local Infrastructure Fund, from which local authorities could deliver local projects needed to unblock land in high demand areas. Local authorities can use the new fund to provide access infrastructure such as distributor roads, bridges, surface water management, amenities and utility diversion to facilitate the opening up of private development on major housing sites and to significantly increase the supply of housing.
(MH/LM)
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