The Department of Agriculture, Food and the Marine (DAFM) has published updated reference costs for the Targeted Agricultural Modernisation Scheme (TAMS).
The new reference costs will be available for all eligible applications submitted under tranche 10 of the scheme.
As previously announced, tranche 10 of TAMS 3 will open for applications on Wednesday (September 10), and will close on December 5.
The update follows "a thorough examination" by the department of all reference costs for the scheme to reflect market costs for the construction of farm buildings and facilities, and farm equipment.
In recent years, farm organisations had urged the department to revise TAMS reference costs in light of increased construction costs.
The department has now published an extensive list of reference costs which are applicable to all approvals issued under the upcoming tranche of TAMS.
The majority of the reference costs have been increased, when compared to the previous list from 2023.
The full list, along with explanatory notes, relevant department specifications, is available on the DAFM website.
Here is an example of some of the updated reference costs contained in the document:
The department said that it will determine the amount of investment eligible for grant-aid when the work is completed and a valid claim submitted for payment.
DAFM reminded farmers that grant aid will not be paid where works commence without the department’s prior written approval.