Nearly 330 to receive €17m in grants to refurbish vacant and derelict homes in Cork City
Council's Vacant Or Grants €50,000 Scheme Term Derelict Restore Between Of Long Provides To City To Cork Properties €70,000
More than 300 property owners are set to draw down €17m in grants to help refurbish long-term vacant and derelict homes across Cork city.
The figures emerged as Cork City Council invited further applications for the scheme which provides grants of between €50,000 to €70,000 to restore long-term vacant or derelict properties.
The council will hold three information sessions over the coming weeks to outline the financial supports available and how to apply.
Around 330 people have applied for the grants so far, with 75% of the applications approved. More than a third have begun the drawdown of funds, with over €17m set to be paid out should everyone complete their planned works.
Director of Service, Fearghal Reidy, said Cork City Council has seen an excellent uptake of the grant, one of the highest per capita of any local authority nationally.
“This is very promising as every successful grant is another example of a long-term vacant home returning to use,” he said.
The grant scheme offers up to €50,000 for vacant properties while qualifying derelict properties can get a €20,000 top-up.
The property must be vacant for at least two years, with further conditions in place for the derelict property top-up. Homes must be built before 2007 and comply with any relevant conservation requirements.
Sites on the city’s derelict site register automatically qualify for the dereliction top-up if all other terms of the scheme are met.
Funding can be claimed for a variety of works with the aim of bringing the property back into use within 13 months of grant approval.
Those wishing to rent out the restored property must be an individual — companies or funds cannot apply — and they must sign up to the Residential Tenancies Board.
The drop-in information sessions will take place between 11am and 1pm in Douglas Library on November 20, in Mayfield Library on November 27 and in the Cork City Library on Grand Parade on December 6.