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 is 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.
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/DevelopmentHousing/Housing/News/MainBody,37940,en.htm.
It is hoped that the SRF will enable very substantial progress to be made in resolving as many of the remaining unfinished developments as possible.
The SRF drawdown to date is set out in the table.
Local Authority
|
SRF Funding drawn down in 2014 to date
€
|
Carlow County Council
|
0.00
|
Cavan County Council
|
0.00
|
Clare County Council
|
184,457.50
|
Cork City Council
|
0.00
|
Cork County Council
|
0.00
|
Donegal County Council
|
425,551.00
|
Dublin City Council
|
0.00
|
Fingal County Council
|
0.00
|
South Dublin County Council
|
0.00
|
D.L.R. County Council
|
0.00
|
Galway City Council
|
125,000.00
|
Galway County Council
|
196,345.00
|
Kerry County Council
|
26,105.00
|
Kildare County Council
|
0.00
|
Kilkenny County Council
|
0.00
|
Laois County Council
|
183,629.98
|
Leitrim County Council
|
0.00
|
Limerick
|
86,749.00
|
Longford County Council
|
422,036.00
|
Louth County Council
|
82,500.00
|
Mayo County Council
|
122,863.65
|
Meath County Council
|
187,500.00
|
Monaghan County Council
|
101,691.00
|
Offaly County Council
|
160,240.00
|
Roscommon County Council
|
0.00
|
Sligo County Council
|
71,250.00
|
Tipperary County Council
|
120,828.00
|
Waterford County Council
|
0.00
|
Westmeath County Council
|
90,757.50
|
Wexford County Council
|
163,499.09
|
Wicklow County Council
|
21,500.00
|
Total
|
2,772,502.72
|
My Department launched the Public Safety Initiative (PSI) in March 2011, which provided funding to address immediate public safety issues in unfinished housing developments. The types of works that have been approved under the PSI include the fencing off of unsecured and hazardous areas, capping of pipes, installation of street lighting and other works to secure sites. To date, €3.39m has been drawn down under the PSI.
My Department issued a circular to Local Authorities on 14 May 2014 advising that the deadline for drawing down PSI funding is 30 November 2014.