Development contributions to Cork City Council are set to plummet, with draft guidelines recommending a reduction of up to 80% in some areas.
Charges for residential developments are set to reduce by 50%, bringing the cost per sq m down from just over €53.12 to €26.56.
This reduction will also apply to single dwellings, but it won’t apply to student accommodation or extensions to dwellings.
Significant discrepancies had arisen between the city and county councils’ costs for agricultural development, which were highlighted after the boundary changes — but these are set to be rectified as fees for agricultural buildings and structures will drop by 80% to just over €10.62 per sq m.
Meanwhile, buildings and structures where the primary light industrial and associated uses include manufacturing, storage, and distribution will see development contributions drop by two-thirds to €17.70.
Fine Gael councillors tabled a motion, led by Des Cahill, last October which called for a development waiver scheme to commercial developments “in order to assist in the construction of housing targets for the city”.
Speaking to The Echo, Mr Cahill, said it took time, but the proposal is very welcome.
“I don’t see any dissenting voices in the council on this,” he said. “It’s really putting people on parity with the county, but it’s also creating a lower price for people to construct.”
City council director of services Fergal Reidy said the new measures would help promote the development of housing in Cork City, given that development has not yet begun on a large number of permitted residential units.
The proposals are due to go out to public consultation from tomorrow.