An image of Carrick-on-Suir's marina featured on Carrick-on-Suir Regeneration Scheme information flyer
Tipperary County Council will have to provide €3.6m matching funding if the Government gives the grant aid green light for Carrick-on-Suir’s ambitious regeneration scheme later this year.
That was the figure Carrick-on-Suir Municipal District’s Director of Services Brian Beck outlined to councillors as he detailed funding applications for proposed capital projects across the district.
Speaking at Carrick MD’s latest monthly meeting, he said the council’s €17.989m Rural Regeneration Development Fund application for the Carrick-on-Suir Regeneration Scheme included a 20 % contingency for inflation of construction costs up to January/February next year.
He said if the RRDF grant to roll out the regeneration scheme was approved, the council had to put up 20% matching funding, amounting to €3.6m to deliver the project. If it couldn’t deliver this €3.6m, the council wouldn’t be able to draw down the RRDF grant.
When asked by Cllr Kieran Bourke where that €3.6m will come from, he said the money wasn’t readily available to the local authority and it would have to draw down a 25-year loan to finance the matching funds.
Speaking to The Nationalist after the meeting, Mr Beck explained that the council’s executive and elected members will have to identify how they can source revenue to finance the matching funding for this project and other projects the council has applied for funding across Carrick Municipal District.
Property Tax revenue is one of a range of options being considered as a source of revenue for matching funding for such capital projects.
Carrick-on-Suir’s Regeneration Scheme is the largest of a range of capital projects proposed for Carrick district that the council is seeking Government funding for but which require matching funding to be paid by the local authority.
Town & Village Renewal funding applications for the Bogfield park at Carrickbeg, Carrick-on-Suir and for Ballingarry, Suir Blueway improvements, the Jesuits’ Walk in Fethard and Carrigmaclear Amenity improvements all require match funding contributions from the council
As do Active Travel projects and Clár funded projects such as Ballingarry playground and Drangan School traffic calming.
Mr Beck pointed out that all this investment will have huge benefits for communities across the district but he reiterated that it won’t happen unless the council can put up the matching funds.
Carrick Cllr Kieran Bourke noted that Carrick MD’s General Municipal Allocation funding pot for local communities doubled because of a 10% increase in Property Tax.
“It had a knock on effect with the people paying the 10% increase getting it back into their communities.”
Fellow Carrick Cllr Cllr David Dunne mentioned the derelict sites levy and highlighted how the county council looked at several ways of raising revenue, not just the Property Tax, at a recent workshop.
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