asked the Minister for Local Government if he is aware of the enormous cost of servicing debt arising from borrowing of money required for the forward purchasing of land in County Dublin for the council's various purposes; and if this cost will be borne by his Department.
Written Answers. - Servicing of Debt.
73.
Dublin County Council, in common with other local authorities have been acquiring land in advance of immediate requirements for housing, roads and other purposes. This has proved to be a sound policy which results in savings for local funds.
In the case of lands acquired for housing the costs of acquisition are charged in due course to the loans raised for the schemes which attract subsidy. Lands acquired for road purposes are charged to the cost of the road works and qualify for grants where the schemes are assisted by the Road Fund.
I realise that in the short term Dublin County Council is committed to substantial expense as a result of the forward acquisition of land. Because of the large sums involved consideration is being given to representations made by the council that in the financing of schemes some relief should be provided for local funds.