Waterford City and County Council adopts multi-million euro Capital Investment Plan
It sets out a bold and balanced roadmap for development across the city and county over the next 4 years
Waterford City and County Council at its Plenary Meeting held last week were presented with a transformative Capital Programme totalling €672 million, which sets out a bold and balanced roadmap for development across the city and county over the next 4 years.
The Draft Programme links long-term strategic projects identified in Council strategies, including the Corporate Plan, City & County Development Plan, Local Economic and Community Plan, Climate Action Plan and Tourism Destination Experience Development Plan (DEDP), with essential infrastructure across Waterford.
Funding Themes:
The Council’s approved Capital Programme spans five inter-connected themes:
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Strategic Development Projects:
These account for just under a third of the total projected expenditure under the Programme over the next 4 years, and include the flagship North Quays regeneration project. Other strategic projects comprise current and proposed URDF and RRDF-funded initiatives, including in Dungarvan, Tramore, Cappoquin, Ardmore, Dunmore East and Portlaw.
Increased funding has been provided in the Programme to tackle dereliction and vacancy across the County. Waterford has been a trailblazer in the local authority sector in bringing vacant or derelict buildings back into use. A provision has also been made for match funding under the next round of the Sports Capital Funding scheme.
In this regard, the Council is actively assessing a number of potential opportunities that will be further examined when preparation of the Local Sports Plan gets underway later this year. The Programme also includes a provision to fund Strategic Assessment Reports (SARs) for a third bridge crossing in Waterford City, and upgrade of the N25 national road.
Neither of these projects are included in the National Development plan (NDP), so the proposed SARs will be a first step in helping the Council make the case for Government funding. Furthermore, a provision has been made to update the feasibility study carried out in recent years on the development of a swimming pool and sports facility for Dungarvan for consideration by the Council.
Housing Delivery:
In support of national housing policy under ‘Housing for All’, the Council will deliver a further 400 social homes by the end of 2026, to include affordable units and cost rental homes. New Government policy on Housing is expected shortly and a revision of housing delivery targets up to 2028 will be reviewed in line with these new increased national targets.
The Council remains committed to ambitious housing delivery, which is critical not only for social cohesion and sustaining vibrant communities, but also in supporting economic development. Access to affordable housing is a foundation for personal well-being and overall quality of life, and remains one of the Council’s highest priorities under this Capital Programme.
Approximately 45% of the overall Capital Programme budget has been allocated towards housing delivery.
Infrastructure Upgrades:
Projects include construction of a new fire station in Kilmacthomas, taking in charge and resurfacing of roads in housing estates, a five-fold increase in funding for upgrading of footpaths in the City and towns and villages across the county, enhancement of the Council’s existing network of 50 playgrounds, and the addition of at least three new playgrounds across the county within the lifetime of the current Capital Programme.
Climate Action Initiatives:
The Council will implement a suite of projects identified in its Climate Action Plan (CAP) to ensure achievement of its climate action targets, including the continuation of the Public Lighting Energy Efficiency Project (PLEEP) to convert all 18,000 public lights to more energy efficient LEDs, installation of Sustainable Urban Drainage Systems (SUDs), energy retrofitting of Council buildings, and provision of additional Electric Vehicle (EV) charging infrastructure.
The Programme also includes funding to deliver Active Travel and new Greenway projects.
Operational and Corporate Projects:
These include investment in critical frontline service delivery, such as a new area depot in Tramore and modernisation of the Council’s fuel management system.
Funding for the Capital Programme:
The Council will secure significant Government funding towards delivery of the Capital Programme in areas such as Housing and under grant schemes, such as the URDF and RRDF. However, in most cases the Council will have to provide match finance and many projects do not attract any co-funding from national Government.
Accordingly, it is estimated that the Council will need to provide upwards of €83 million from its own sources over the next 4 years to finance the Capital Programme. This will include reserves built up in recent years from prudent financial management and anticipated development levies to be collected.
The Council will also need to borrow to complete the Capital Programme, and in this regard the elected members approved in principle to put in place a facility of up to €20 million to be drawn down as needed to deliver other projects listed in the Programme (subject to the normal Ministerial approvals.)
This blended funding approach will ensure that the Council can deliver on its ambitious Programme while maintaining financial stability.
The Capital Programme will be reviewed on an annual basis to ensure it remains aligned with the Council’s strategic objectives, emerging priorities and available resources.
In welcoming the Capital Programme the Mayor of Waterford, Cllr Jason Murphy said,
“While we are ambitious to deliver transformational projects over the next 4 years such as the North Quays and our Housing for All targets to make Waterford an even better place, we also know that quality of life begins at street level.
“That’s why the Council has ensured that the Capital Programme includes a significant increase in investment in footpath upgrades, road maintenance and taking in charge of estates — essential services that enhance our placemaking credentials and directly impact our citizens every day.”