Large reduction in Nth Cork unfinished estates
COUNCIL AIMING TO HAVE NUMBER OF GHOST ESTATES IN SINGLE FIGURES BY END OF THE YEAR
A REPORT issued to county councillors has outlined the progress made by Cork County Council in tackling the thorny issue of unfinished estates across the north Cork region.
The report, compiled by senior council planner Andrew Hind, was for the most part positive with Mr Hind pointing to a dramatic reduction in the total number of unfinished estates over the past two years.
His report outlined that a 25% reduction from 39 to 28 between 2015 and 2017, with Mr Hind saying the authority hoped this figure would be down to single figures by the end of this year.
“The reduction has been slower in north Cork than in other areas of Cork, the main reason for that is because the housing market has been moving at a slower pace here,” Mr Hind told northern area councillors at their July monthly meeting.
“The signs are that it is recovering and we envisage that the total will be reduced by a minimum of 50% again this year, with the hope that the figure will be down in single figures by the end of 2017,” he added.
The report pointed out that there were new developers or active developers involved in 12 of the estates, a bond settlement was expected on a further seven and no county council action was required on another with other, undisclosed issues, pertaining to the remaining two estates.
“The aim of our estates team is to get all of these estates to the point where they can be taken in charge by Cork County Council. We take a prioritised approach so that the resources available are focussed on the most significant cases from a more human and environmental perspective,” said Mr Hind.
“We have developed good working relationships with the various stakeholders such as developers, receivers and bond providers and there is at least a willingness to help resolve the issues,” he added.
However, Mr Hind was keen to point out that difficulties remained in getting some of the bonds released. He said this may be due to their age, potential legal defects in their wordings or unreasonable terms and conditions.
He said the authority was reluctant to go to the High Court to get bonds released unless they were “absolutely sure” of their grounds as an unsuccessful claim could result in “substantial” costs being awarded against the council
“But, it is fair to say that usually the bond providers, the banks or insurance companies, are becoming increasingly keen to pay out and get rid of the liabilities on their books. For example, we have a dialogue with the AIB and they are keen to pay out in all their bonds,” he said.
“Basically, what we are saying is that all of the 28 estates are progressing towards some form of resolution. That may not be happening as fast as councillors or residents would like, but the optimist in me would hope we will be down to single figures by the end of the year. I would certainly expect to be reduced by at least 50 per cent.”