Galway Bay fm newsroom - A Galway city councillor is calling for government support to deal with the city's multi million euro land loans.
Cllr. Donal Lyons proposed at this week's city council meeting that the city executive meet with the relevant minister to seek financial support to reduce the burden on the council.
Following discussion on the 2016 Statutory Audit report, it was revealed that the city's land loans are being repaid on an interest only basis, costing the council almost 550 thousand euro per year.
The loans, worth over 32 million euro, were taken out to purchase a land bank for future housing by the local authority.
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Cllr Lyons says the interest payments are a significant burden on Galway City Council.
