European funding to renovate houses of captive residents
For the ICCARus project, the City of Ghent will receive five million euros to renovate 100 houses in Ghent.
On 10 October 2018 Ghent was announced as one of the winners of the 3rd call of Urban Innovative Actions (UIA), an initiative of the European Union that provides urban areas throughout Europe with resources to test new and unproven solutions to address urban challenges.
For its project ICCARus, the City of Ghent receives five million euros in European project subsidies to renovate 100 houses in Ghent.
The lCCARus project has the aim to renovate 100 houses of captive residents (people who live in poor quality houses and who do not have the means and social skills to renovate them). To do so, the project will create, shape and test a revolving fund based on the principle of subsidy retention to make the renovations possible for this low income target group. The financial contributlon to target households will return to the fund when the building is alienated. At that point, the fund will gain not only the net amount that was let but also part of the real estate value increase after the intervention. This way, the public finance is not only spent for a limlited number of people, but can be used over and over again, triggering future "waves" of renovatlon.
Before, during and after the renovatíon process, captive residents will be supported technically, financlally, administratively and soclally while the works will be taken care of in an integrated way. After the project period, there will be an operating recurring fund to tackle the bad housing conditlons of captive residents in Ghent.
This is a project of the City and OCMW of Ghent, in collaboration with 3 higher education and research institutes (KU Leuven, UGent & AP Hogeschool Antwerpen) and 3 NGO partners (SLOC, Domus Mundi and REGent).