According to the latest Government Decision No 1686/2021 (IX.29) published in the Hungarian Official Bulletin, by 31 March 2023 the Hungarian National Asset Management Company PLC., with the involvement of the Ministry of Finance, must allocate HUF 585 112 000 from the 2022 budget, and then a further HUF 233 494 000 from the 2023 budget, for the reconstruction of the famous historical building in Kőszeg. Thus, the government will spend a total of HUF 818 606 000 on the renovation of the Kőszeg Ballroom.

As is well known, the Ball House was also on the list of buildings to be renovated under the KRAFT programme, of which 7 buildings in Kőszeg (Sigray Palace, Zwinger Old Tower, Szemző House, Sgraffito House, Benedictine Convent & School, Festetics Palace, Synagogue) have already been renovated in recent years.

The KRAFT programme is developed by Ferenc Miszlivetz and coordinated by the Institute of Advanced Studies Kőszeg (iASK), which he heads as Director-General.
After more than two decades of unsuccessful attempts and failures in terms of recovery and renovation, the KRAFT programme will soon bring about a worthy renewal of the Ball House of Kőszeg.

After its renovation, the Bálház will be the cultural and civic palace of Kőszeg in the 21st century, including a concert hall, an exhibition space and a cinema.

It will also host the interactive workshop of the Institute, the Pannon House of Literature and Arts. From its inception, the iASK has been committed to the co-development of small towns and regions, and to increasing the liveability, attractiveness and sustainability of rural areas. The Creative City, Sustainable Region (Kraft) programme was launched in Kőszeg in 2014 with government support.

Encouraged by the results achieved and taking into account the ever-expanding ambitions, iASK is working on a regional and national extension of the KRAFT concept.