NI Social Development Minister, Margaret Ritchie said she had moved to secure funding for the Living Over the Shop (LOTS) Scheme, which helps 'breathe new life' and vitality into towns by utilizing under-used retail space for housing.
The Minister made the announcement after a meeting with a delegation from the local government's body, Northern Ireland Local Government Association (NILGA) on Thursday.
Ms Ritchie said: "This is an enormous boost for this scheme, when it looked like it could not continue being funded because of budget pressures from within the Northern Ireland Housing Executive.
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"I view the LOTS scheme as an important tool in revitalising towns and cities and one which I have already decided to move to the new councils in 2011. By making this funding available it will also ensure that much needed housing requirements are addressed."
Up to now, funding for LOTS has been administered by the Northern Ireland Housing Executive.
This funding 'pot' is under enormous pressure and the LOTS scheme, which is primarily about urban regeneration, was in danger of missing out.
Budget from within the Urban Development Grant has been secured to continue with this scheme.
Minister Ritchie added: "My number one priority, is social and affordable housing.
"By making this investment, I have protected this while, at the same time revitalising and regenerating under-used areas in towns and cities across Northern Ireland."
Ulster Unionist MLA Billy Armstrong has welcomed the funding.
He said: "The scheme has a dual benefit, in that not only will it help ensure that our town and city centres are not allowed to become effectively dead zones after 5pm, but it will also help address the chronic need for housing - particularly social housing – in many parts of Northern Ireland."
(PR/BMcc)
