Minister for local government, James Browne, is yet to receive a request from Galway City Council to approve its €60 million loan to fit out the empty commercial shell it owns in Crown Square.
The local authority purchased Number 3 Crown Square from developer JJ Rhatigan for its new HQ, with a separate, €45 million loan, approved in 2022, although the unfinished building has depreciated by €7 million since.
The minister’s signature is vital in the coming weeks if Galway City Council is to drawdown the first tranche of its historic loan before the annual General Government Deficit (GGD ) limit is breached. This cap on borrowing for local authorities was first imposed during International Monetary Fund (IMF ) restructuring after the 2008 financial crash brought supranational supervision to public borrowing.
“The Department of Housing, Local Government and Heritage has not received any borrowing sanction application from Galway City Council in 2025,” said a spokesman from Minister Browne’s office, who added that a “borrowing sanction application” takes a minimum of six weeks to process.
In July, Galway city councillors approved an application for a 30-year loan from the Housing Finance Agency (HFA ) to pay for an extensive technical, mechanical, structural and final fit-out of their new headquarters in Mervue.
