Galway City Council has given its approval to seek a €60 million loan, which will be used for a number of sports, culture, and infrastructure projects.
The elected members of Galway City Council voted to approve the loan on Monday to commence projects such as sports masterplans and the redevelopment of Galway City Museum.
Mayor of the City of Galway, Cllr Mike Cubbard, said, “This approval to proceed with this €60m loan application today represents the belief and positivity Galway City Council has in our city.”
“This is a young, vibrant, educated, artistic, Gaeltacht city, with a long tradition as an outward-looking trading port, over more than 800 years of history.”
“This decision is an investment in our future, starting the enabling works for ground-breaking projects, including the sports masterplans.”
The full list of projects being supported by this capital investment includes:
- Masterplans at Kingston, South Park and Renmore (land acquisition and enabling works);
- Woodquay Park redevelopment;
- Pitches at Millers Lane;
- New MUGA at Renmore;
- Delivery of other sports capital projects, such as pitch drainage and the skate park in Doughiska;
- Redevelopment of Galway City Museum;
- Upgrades to Cultural Facilities in the City;
- Public lighting upgrades, following damage from Storm Éowyn;
- Fit out of new civic offices to accommodate staff
Galway City Council will now seek formal sanction for the loan from the Department of Housing, Local Government and Heritage, and agreement of loan terms and drawdown with the Housing Finance Agency.
The 2026 budget planning process will commence in Galway City Council in Q3 2025, prompting the application process at this point in time.
Repayment of the loan will take place over a 30-year term, with an annual repayment of €3.1 million anticipated.
Chief Executive of Galway City Council, Leonard Cleary, said, “This capital investment is possible as a result of some difficult decisions by Members in late 2024, to increase the funding available to the City Council through an adjustment in Local Property Tax and Commercial Rates.”
“This decision is now bearing fruit, as we find ourselves in a stable position to apply for a hugely significant investment in capital infrastructure in our city.”
“Galway City Council is gearing up to deliver these projects – through the establishment of a new Project Development Directorate, on-going recruitment of the specialised people and skills needed to deliver these projects, and preparation for our move to new civic offices where we have the space to expand and accommodate the people we need.”
“The loan sanction today is a statement of our intent for Galway City to remain a world-class city to live, invest, work, or visit, with a significant programme of projects enabled as a result of today’s decision”.
