Taoiseach Brian Cowen and Housing Minister, Michael Finneran have announced that the programme will incorporate 26 new regeneration projects worth €337million.
"This Government is about renewal, whether it is economic renewal or renewing some of our most disadvantaged communities," said Mr Cowen at the official launch of the Phase 1 Implementation Plan.
He continued: "I consider the regeneration initiative in Limerick to be of the utmost importance, both for the communities and families living in the city, but also as a demonstration of this Government’s ability to deliver complex projects across the whole of the public sector."
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Minister Finneran added: "For the people of Moyross, Southill, Ballinacurra Weston and St. Mary’s Park, the approval of these projects show that this Government has listened to their problems, we have heard them, and are delivering on our commitment to work with them to rebuild their communities.
"I am committed to providing over 850 new and refurbished social housing units, and the associated enabling works, at a total cost of €160m over the next four and a half years."
Minister Finneran also announced that, on top of the €25 million already allocated in 2010, he is making available an additional €10 million in 2010 in order to fast-track the enabling works, including acquisitions, demolition and site preparation, to facilitate the early construction of new housing and other important infrastructural projects.
The Minister also intends to amalgamate the two Limerick Regeneration Agencies into a single agency, led by a new, "more strategically focused" board.
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