Special Housing Fund To Be Used To Complete Developments

A €10m Special Housing Fund announced as part of the Budget 2014 is to be used to help complete 86 housing developments across the country, Minister for Housing and Planning, Jan O'Sullivan, has announced.

The Minister made the announcement while visiting the Fionn Uisce development in Galway City, saying: "There has been substantial progress in tackling the issue of unfinished estates. Since 2010 the number of unfinished estates has reduced by more than 50%.

"In the recent Budget, with the support of Minister Brendan Howlin, I established a dedicated €10m fund to help resolve some of the most problematic estates.

"86 estates across the country will benefit from this funding. In total €10m in public money will be invested. This public investment has also leveraged an additional €12m from third parties (developers/lenders/bonds) which will be invested in these estates.

"This investment has many benefits. It will make an immediate improvement in the lives of families currently living on unfinished estates. We estimate that there are more than 2100 families living on the 86 estates earmarked for funding.

"They have had to endure many years of frustration and I am glad that this will now be brought to an end. The investment is also good for the wider local community. Unfinished estates are often an eyesore in an area and this investment will resolve some of the most problematic estates.

"In additional the additional spending is good news for jobs in the construction industry with a total capital investment this year of €22m in public and private funding."


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