Fine Gael TD for Sligo/North Leitrim, Tony McLoughlin has confirmed that €246,052 is being made available in this year’s budget to deal with unfinished housing developments in Co Leitrim.
“Since the Government came into office, there has been a 56% decrease in the number of unfinished developments. However, there are families still living on 992 unfinished developments around the country,” Deputy McLoughlin told the Leitrim Observer earlier this week.
The €10 million Special Resolution Fund, from which this allocation is drawn, is principally designed to address deficiencies in public infrastructure, such as roads, footpaths, public lighting and open spaces. It is envisaged that addressing these problems will unlock the potential for developers/funders to invest additional capital to finish out the housing element of the development.
“Many of the developments that require this type of investment are currently in limbo and inactive because the public infrastructure deficit deters any potential buyers from expressing an interest in the estate,” noted Deputy McLoughlin.
He added that he Minister informed him that she hopes to make a further allocation of funding for the completion of unfinished developments later in the year.