Major projects in several Mayo towns held up due to lack of funding

Several capital projects in Mayo are in limbo as the match funding required to complete them is not available. 

In a report to councillors at last week's meeting of Mayo County Council, Director of Finance Peter Duggan outlined that there are currently 21 projects valued at €117 million, which carry an associated or match funding requirement of €63 million, while approximately €27.4 million in funding/match funding has already been provided either through loans or the council’s own resources. The council is required to sign a declaration with any grant funding application that it is in a position to meet the co-funding requirements and such projects relate to both the urban and rural regeneration funds as well as schemes under the Large Scale Sport Infrastructure Fund and Fáilte Ireland. 

The council currently has total loans amounting to €60.1m and the finance director outlined that the €36m match funding deficit means that some projects are currently not fully funded and thus cannot proceed. These include the Westport Convent project; the Westport Civic Offices development; Belmullet and Swinford rural regeneration projects; Ballinrobe Courthouse; Castlebar Sports Complex; Lisloughrey car park; Céide Coastal Path; Ballina Quay development; and Ballina Town Centre development, together with other projects such as Climate Change Pathfinders, Westport Industrial Estate Phase 2 and a renovation of the council offices.

He also noted that pension reserve liability for the council will lead to €3 million having to be set aside annually from 2030, and that while €8.3m was transferred for capital projects from council coffers, the level of funding needed to meet current projects "before even considering any future projects is a real concern".