Half a million euro to complete 3 Inishowen ghost estates.
Issued : Friday 2 May, 2014
News that 3 unfinished housing estates in Inishowen are to receive vital funding to deal with issues around ghost estates has been welcomed by Labour councillor, Martin Farren.
Funding worth €1,491,429 will be spent on 8 housing estates in Donegal after Labour Minister, Jan O’Sullivan, launched the €10m Special Resolution Fund announced in Budget 2014.
Announcing the funding Minister O’Sullivan said, “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 Labour 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.”
In the case of Donegal €851,101.00 has been provisional approved from the Special Resolution Fund and a further €640,328.00 has been provided by third parties and developers’ bonds. This will allow Donegal to complete remedial works to 8 ghost estates.
Welcoming the announcement Councillor Farren stated that the money would be used to tackle problems such as poor roads, footpaths and public lighting. This is great news for the communities who live in these estates, many of them with young families and who badly need a break.
“3 estates in Inishowen will receive €483,480.00 from the fund. These are Gerard’s Way, Carndonagh, Cois na hAbhain, Malin, and Monreagh, Burnfoot. This 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.”
“The local economy is also set for a boost considering the construction work involved. I would urge Donegal County Council to avail where possible of the services of community organisations that employ and train long-term unemployed people.
“It is now over to the council to get the ball rolling and ensure that this necessary work is completed as soon as possible.”