David Conway, CEO of Limerick Twenty Thirty with Mayor Stephen Keary and Aidan Malone, project manager at the launch of the master plan process in Mungret
A SPECIAL contribution scheme is likely to be introduced to fund the construction of a new distributor road in County Limerick.
Maria Woods, a senior planner with Limerick City and County Council, has revealed there is likely to be a €5m shortfall in funding for the Mungret project which will open up around 26 hectares of land for development.
Briefing members of the Economic Development, Enterprise and Planning SPC, Ms Woods said while government funding from the Local Infrastructure Housing Activation Fund (LIHAF) has been approved, further monies will be needed.
Details of the proposed scheme are being finalised and it’s expected there will be public consultation later this month.
Around 850 new homes are to be built in the area and it is expected that any developer will be required to pay a levy of between €2,500 and €3,000 per house.
Cllr James Collins says the proposal to introduce a special contribution scheme will mean house-buyers will have to pay more.
“It’s unfortunate that we are going to drive up the price of houses but, I suppose, we are between a rock and a hard place,” he said, adding that it might put the cost of houses beyond the reach of potential buyers.
Cllr Daniel Butler called on any future developers not to pass the levy on given that they will not have to fund the cost of the distributor road.
“Without LIHAF the houses would be dearer,” he said, adding it is essential that the road is built as soon as possible.
Separately, Ms Woods confirmed that negotiations are continuing with landowners along the route of the proposed distributor road.
When quizzed by councillors about the progress, she only confirmed there are “ongoing discussions” and that the council has not considered Compulsory Purchase Orders to date.
A master plan for the development of the 26 hectares in Mungret is currently being drawn up by Limerick 2030 on behalf of the local authority.