Council offloads €30m in land debts
Published 02/11/2010 | 05:00
THE largest local authority in the country has rubber-stamped the transfer of some €30m of land debts to the State, writes Shane Hickey.
Dublin city councillors last night voted to offload the loans for 30 hectares of land, under a programme where the Department of the Environment will pay off loans to councils for lands they are not likely to develop.
The transfer is for lands at Ayrefield off the Malahide Road, Belcamp Lane and at the Belmayne development.
The move came as the council struggled to service mounting interest payments.
Under the scheme, the lands are transferred to the Housing and Sustainable Communities Agency.