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Tag Archives: loan

€8 million ‘shambles’ for council

The Department of the Environment’s decision to scrap a national loan scheme means the council will have to pay off in the region of €8 million for land it purchased for about €5 million. Clare County Council will have to fork out an additional estimated €358,000 each year for the next 20 years to pay unexpected loan charges for undeveloped land in Ennistymon and Feakle. The circumstances surrounding the purchase of land for social housing in North and East Clare and the ending of a scheme to pay off loans taken out for social and affordable housing that was never built has been condemned as a “shambles” by Councillor Pat Burke. Having criticised expenditure totalling more than €5m for this social housing landbank, councillors had hoped that the national exchequer would bear the cost of paying off the loan debts when the council requested its transfer to the Land Aggregation Scheme (LAS). The scheme was set up by the Department …

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