Galway Bay fm newsroom - The owners of the derelict Corrib Great Southern Hotel at the Dublin Road will be hit with a 112 thousand euro annual levy from January if the building is not renovated.
A notice under the Derelict Sites Act 1990 has been issued to the owners of the former hotel, which has been valued at over 3.7 million euro.
The levy of 3% of the market value will come into effect from the first day of January 2018, if the site remains on the council's derelict register.
The City Council says the site will only be removed from the Register once works are completed to the council's satisfaction.
The owners of the site - the Comer group - have had pre-consultation discussions with the city planning office regarding the possible future development of the site.
