Labour TD Willie Penrose is advising the local authorities of Longford and Westmeath to apply to a special €10m fund which aims to tackle unfinished developments.
“We still have a problem with a number of unfinished housing estates in Longford and Westmeath but thankfully my colleague, Labour Housing Minister Jan O’Sullivan, secured a special fund of €10 million in the Budget, with a view to specifically tackling the most problematic unfinished developments” he said.
Penrose explains that the fund was designed to address “deficiencies in public infrastructure”. It is hoped that addressing these issues may encourage investment in the developments. “It is envisaged that by addressing these problems, we will unlock the potential for developers and funders to invest additional capital to complete the housing element of the development” he continues. “Many of the developments that require this type of investment are currently in limbo and inactive, as the public infrastructure deficit deters any potential buyers from expressing an interest in the estate.”
The closing date for applications is February 28, and the Longford-Westmeath TD concludes, “I am encouraging Longford County Council and Westmeath County Council to apply to the Department of the Environment as soon as possible for funding, so we can press on with making real progress in this area.”