This article first appeared on Galway Bay FM
City councillors have this evening approved by wide majority a fresh loan part of which will go towards the fit out of the new HQ at Crown Square in Mervue.
The move has proven controversial – but this approval can be seen as an endorsement of the local authority’s position that it is the most sensible financial decision.
The two councillors who voted against this latest loan were Social Democrats Eibhlín Seoighthe and Alan Curran.
The key issue around Crown Square has always been the value for money – or the potential lack thereof – in the €45m purchase made three years ago.
But, two separate independent valuations confirm it was good value for money when it was purchased, despite a drop of €8m since due to a more volatile commercial landscape.
Galway City Council did look at alternatives – but they all came in at vastly higher pricetags, in some cases almost €40m more.
And at the end of the day, Galway City Council will still own the extremely valuable 4 acre site at College Road, though we don’t know at this point how it’ll be repurposed.
This was the position presented to councillors today and it’s been the position of the local authority all along – Crown Square was, and remains, the best value for money option.
The 30 year, €60m loan approved today isn’t just for the fitout of Crown Square – and many councillors today were keen to stress it’s important there’s no confusion among the public about that.
It’s for a variety of capital projects, ranging from major sports facilities down to public footpaths.
There wasn’t a projected breakdown provided though, and thus there was little certainty on what the fitout of the new HQ will ultimately cost.
That wasn’t to avoid transparency, the executive stated – but rather, to ensure it didn’t show its cards too early and reveal to potential contractors what it’s willing to spend on certain projects.
After this afternoon’s vote, an assurance was given that the project will now move foward at a drastically accelerated pace, with the first staff set to move in before the end of 2026.
