County councils owed €395m by developers
NEW figures show that local authorities across the country are cash-strapped as a result of the property collapse and are owed more than €395 million in development levies.
According to Environment Minister Phil Hogan, the highest amount due is to Fingal County Council in north Dublin where developers owe a staggering €129 million to the local authority.
In the Dail, Minister Hogan confirmed that at the end of December 2010 local authorities were owed over €395m.
The monies from development levies were designed to go towards the funding of capital projects across the country.