CITY COUNCIL TRANSFER LAND TO AGENCY DUBBED NAMA FOR LOCAL AUTHORITIES

Date Published: 15-Jun-2011

A controversial transfer of city council lands to an agency dubbed the NAMA for local authorities has been approved.

After heated debate at this week’s city council meeting, the majority of city councillors voted to give away over two hectares of lands on Ballymoneen Road to the Land Aggregation Scheme.

The city council bought the lands for 5.75 million euro in 2004 and now owes 6.85 million which must be paid by the end of the year.

Director of Services Kevin Swift said the city council would be liable for interest if they didn’t transfer the loan to the Land Aggregation Scheme.