Dun Laoghaire Rathdown County Council has approved the Capital Expenditure Programme of €165 million for the 4 Year period 2012 to 2015.

Approximately €113m of the total expenditure of €165 will be funded from the Council’s own resources, with the balance of €52m coming from non-Council sources - mainly grant aid from central government Departments. The Council will not have to undertake any borrowing to fund the Capital Expenditure Programme.

In selecting projects for inclusion in the Programme the Council has sought to ensure a reasonable balance in capital expenditure between the two Council areas (i.e. Dún Laoghaire and Dundrum) and to prioritise community and recreational amenities/facilities across the county. In addition provision has been made for the necessary infrastructure to ensure that development can be progressed in line with the Sandyford Urban Framework Plan and the Cherrywood SDZ.

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Speaking after the adoption of the Programme the Cathaoirleach, Councillor John Bailey, said: "The Council is very fortunate to be able to progress a wide range of new investment projects over the next four years without recourse to borrowing. By carefully managing its capital resources over recent years the Council is now in a position to avail of exceptionally competitive pricing in the construction sector and to provide a most opportune boost to economic recovery and employment creation in the county."

Included in the Programme is the construction of the new Library/Arts/Culture/Community complex at Moran Park at an estimated cost of €36.6m. The Part 8 scheme for this project was approved by the Council in November 2009. The tender process has now been completed with the award of the tender to John Sisk and Sons and vacant possession of the site secured.

(CD)