Friday 26 December 2014

Sligo nets 10pc of total fund for housing

Published 03/05/2014 | 02:30

SLIGO has been allocated the largest share from a new fund for unfinished housing estates.

The county will receive almost €1m – close to one tenth of the total €10m Special Resolution Fund, which will tackle issues in 86 unfinished housing estates across the country.

Sligo is set to receive €908,877 to complete six estates, whilst Donegal has been approved for €851,101 to complete eight estates and Longford has been allocated €844,072 for four estates.

Wicklow secured the least amount of funding, and was granted just €43,000 for works on one development. A further €12m is also to be invested from third parties, including developers, lenders and bond-holders.

The biggest recipients of private funds for the completion of estates were counties Galway, Meath and Sligo, which between them, will account for close to €5m of the €12m.

Estates

Minister for Housing Jan O'Sullivan announced the funding while visiting the Fionn Uisce development in Galway city. It will receive €250,000 for completion works under the fund. She said there had been substantial progress in tackling unfinished estates, with the numbers of such developments dropping by 50pc since 2010.

"We estimate that there are more than 2,100 families living on the 86 estates earmarked for funding," she said. "They have had to endure many years of frustration and I am glad that this will now be at an end."

Tanaiste Eamon Gilmore also praised the new fund. "One of the things we set out to do was complete the unfinished housing estates and get them back into operation," he said. "We've about 56pc of the unfinished estates completed.

"Even better news is that 72pc of all of the housing units in unfinished housing estates are now completed and are now being lived in."

Irish Independent

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