€5 million worth of funding has been allocated to tackle vacancy and dereliction in Cavan and Monaghan. The investment is under the Urban Regeneration and Development Fund (URDF), and will allow local authorities to acquire suitable properties to transform into housing and other uses.
Under the URDF, some €3.5 million has been allocated to Cavan County Council, while a further €1.5 million has been allocated to Monaghan County Council.
According to local Fianna Fáil TD, Deputy Brendan Smith, this funding allocation will help local authorities bring vacant properties back into use with the dual benefit of improving streetscapes and providing additional housing.
He added that the announcement is "hugely positive" as not only will it remove derelict properties which are eyesores in our towns and villages, but it will give people the opportunity to live and participate in their local communities making them more vibrant in the process.
Local authorities will acquire vacant/derelict properties which are either not on the market for sale or to which the market has not responded. They will then offer these properties for private sale to individuals who in return will commit to bringing the property into use as a home.
"Proceeds from the sale of these properties will ensure a rolling programme of acquisitions and disposals is in place," explained Deputy Smith. "
I’m delighted that my party colleague Minister for Housing Darragh O’Brien has allocated €5 million to tackle vacancy and dereliction in Cavan and Monaghan. This will allow vacant properties to be brought back into use and create new homes.
"It's hugely positive as not only will it remove derelict properties which are eyesores in our towns and villages, it will give people the opportunity to live and participate in their local communities making them more vibrant in the process."
