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KCC Paid Interest Of €66,000 In One Year, On Loan For Housing Development For Which Works Had Not Begun.

: 01/24/2020 - 08:29

Kildare County Council paid out €66,000 interest in a single year, on a loan on lands for housing development on which works had not begun.

The finding was made by the Local Government Auditor, in respect of the council's 2018 accounts.

The report has just been published by the Dept. of Housing.

The Auditor notes that the 2018 year-end balance, "included €5.28m that was owed to the HFA on loans that were taken out some years ago to acquire land for housing development that has not yet commenced."

The Auditor adds "The total interest incurred and paid on these loans in 2018 were €66k."

In response, Kildare County Council's CEO said "Loans are only drawn down with the approval of the Department and by way of resolution from the elected members. It is intended to explore every avenue to utilise these sites to the benefit of the Council and this matter is being kept under review."

For hyperlinking:

The report, in full, is available here.

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