The Elected Members of Galway County Council have approved the Local Authority’s housing borrowing requirements.
Approval of loans totalling €66.5 million is required to fund critical housing projects and schemes, aimed at addressing housing shortages, promoting affordable and cost rental options, regenerating communities by bringing vacant properties back into use and investing in existing social housing.
The borrowing approval will enable the delivery of the first affordable cost rental homes by Galway County Council and the advancement of three affordable housing schemes in Baile Chláir (Claregalway) and Athenry.
Following the unanimous approval by the Elected Members, Galway County Council will now seek loan approval from the Minister for Housing, Local Government and Heritage that will allow for investment in the County’s housing needs.
“County Galway is experiencing increased demand for affordable and social housing and, therefore, it is critically important the Local Authority is sufficiently resourced to deliver new housing schemes, bring vacant and derelict properties back into use and maintain our existing housing stock to modern standards,” explained Liam Conneally, Chief Executive of Galway County Council.
He added, “The support of Elected Members in achieving this goal is paramount and their approval of our Housing Borrowing requirements marks an important step in this process.”
Michael Owens, Director of Services for Housing with Galway County Council said, “Significant progress has been made in 2024 to date in delivering social and affordable housing schemes with numerous developments completed and under construction across County Galway. The collective ambition of the local authority and its members to tackling vacancy and dereliction rates and increasing and improving our housing stock can only be realised by successfully securing the necessary funding from the relevant agencies, which the approval of the borrowing requirement by the Elected Members and the Minister will enable us to do.”
