Tuesday November 24, 2020

Builders’ upfront costs to be deferred in new funding model

A joint venture involving Cork County Council and the Irish Strategic Investment Fund will see housing infrastructure development costs being paid by builders only when houses are being sold

22nd November, 2020
Donal Murphy of Ireland Strategic Investment Fund, Niall Morrissey, chief executive of the Housing Infrastructure Services Company (HISCo), Tim Lucey, chief executive of Cork County Council, and Jerry Mehigan, chairperson of HISCo launching HISCo in Cork. Picture: Clare Keogh

Developers will not have to meet the upfront cost of providing supporting infrastructure for new homes under a funding model being offered by a new joint venture between Cork County Council and the Ireland Strategic Investment Fund.

The Housing Infrastructure Services company (HISco), a private limited company, has been launched to help in the financing and provision of key infrastructure such as waste water treatment plants or relief roads, the absence of which can block...

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