Banks stalling development of city sites, claims manager

THE viable regeneration of key Cork city sites is being stalled because developers can’t get credit from the banks.

City manager Joe Gavin said one developer, who acquired a landmark site in 2005, is ready to move on the project but “can’t get a cent from the banks”.

Until the credit issue is “addressed urgently at national level”, dereliction will be an issue in parts of the city, Mr Gavin said.