Council faces loan repayments of €1.2m

KERRY County Council faces loan repayments of €1.2 million for land bought at upwards of €230,000 per acre during the boom, most of which is no longer needed.

Interest charges on the loans in the current year are about €180,000, and repayments could hit €1.2m by 2016, according to county manager Tom Curran.

He said some land was bought at peak prices, but the council was unlikely to build houses in the foreseeable future because of funding cuts.