Members of Cavan County Council were given a presentation of the extended Chroi na Conaithe scheme at their December meeting.
The Scheme was initially brought on stream to provide grants to house buyers to renovate derelict properties in towns and villages.
Last month the Government announced it was extending the initiative to include properties in rural Ireland.
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Speaking to Northern Sound, Cllr John Paul Feeley says, that while the Scheme is "substantial", those who access it must have the property as their principal private residence.
He added that not only does the Scheme help first time buyers to own their own homes, it also allows local authorities to bring stock back into circulation:
