Budget 2014 contained a special provision, in the form of a targeted €10m Special Resolution Fund (SRF), to assist further in addressing the legacy of unfinished housing developments. The SRF was designed to encourage the resolution of the remaining tranche of unfinished developments identified in the National Housing Development Survey 2013 and, particularly, those developments not likely to be resolved in the normal way through solely developer/owner/funder action because of the presence of specific financial barriers. The SRF was particularly targeted to address the remaining unfinished developments with residents living in them and, in particular, any developments that local authorities identified, for the purposes of the Local Property Tax waiver, as in a seriously problematic condition. In December 2013, my Department wrote to local authorities seeking proposals for funding support under the SRF and the deadline for receipt of applications was 28 February 2014. All submissions were evaluated by my Department in accordance with the criteria circulated to the local authorities. On 2 May 2014, allocations from the Special Resolution Fund were announced and 86 developments were approved for funding. The following link contains a list of all developments approved for SRF funding: http://www.environ.ie/en/Publications/DevelopmentandHousing/Housing/ FileDownLoad,37996,en.doc.
Kildare County Council submitted four applications for funding from the Special Resolution Fund, of which one was approved for the sum of €75,000. The approved project is underway, with 50% of the total approved funding drawn down to date.
Separately to the SRF, the Public Safety Initiative (PSI), which was launched by my Department in March 2011 and wound down on 30 November 2014, provided funding to address immediate public safety issues in unfinished housing developments. The types of works approved under the PSI included the fencing off of unsecured and hazardous areas, capping of pipes, installation of street lighting and other works to secure sites. Under the PSI, my Department approved funding allocations totalling €4.3m to local authorities. Kildare County Council submitted five applications for funding from the Public Safety Initiative scheme, of which one was approved for the sum of €15,477, all of which has been drawn down.
