Notwithstanding the constraints accentuated by the pandemic, it is seful to do some ‘what if’ thinking and to sketch out some different scenarios, to suggest what the headings of a funding model might look like.
We first consider Acquisition Funding, Collateral and Repayment possibilities. We next present a set of Construction and then Maintenance possibilities. All these headings need to be verified and populated by persons with the required expertise/ A Funding sub-group has been established for this purpose.
How the acquisition might be funded:
Possible Funding sources:
- Funds (€1.3.m) for Community Park which were ‘ring-fenced’ by MCC in 2017 and 2018
- Loans raised on existing assets of Community Groups
- Loans from Banks/Credit Union on security of MCC promise to repay e.g. from future levies on new developments (Community Contribution Scheme)
- Gifts or loans from Business in Ashbourne/environs
- Gifts or loans from private individuals in Ashbourne/Environs
- If another Municipal District became involved, (Ratoath) then they may bring additional funding into the equation.
Possible security for loans:
- Titles to land purchased
- MCC Guarantees
- Titles to existing assets of Community groups in Ashbourne (a long-shot).
How borrowings might be repaid:
- By future beneficiaries via a levy on all new residences built in Ashbourne and its environs this could use a device similar to the Community Contribution Scheme currently used to help fund the Navan-Dublin rail line (see https://www.meath.ie/council/council-services/planning-and-building/planning-permission/development-contribution-schemes)
- Further public grants (Leader/Meath Partnership, etc.)
How construction might be funded:
Amenity:
- Urban Regeneration and Development Fund – See information on eligibility, priorities etc. at https://www.gov.ie/en/publication/bcc0ae-eligibility-for-the-urban-regeneration-and-development-fund/
- Areas ‘adopted’ by Community Groups, e.g. Men’s Shed, Horticulture Society, individual Residents groups.
Sports:
- Sports Clubs, either collectively or individually, would be expected to fund their own development.
Other:
- This would depend on the nature of the use to which the ‘other’ portion of the land was put and would be covered by whatever ventures emerged. They would not be a charge on the Amenity or Sports projects, and if no ventures emerged, this land would be disposed of to write down borrowings.
How ongoing Maintenance might be funded:
Amenity Park:
- There is an objective that this might become a Community activity, with any capital funding required raised through Community Grant schemes.
- Ashbourne Community Initiative or similar schemes might provide manpower.
Sports:
- This would be a matter for the Sports Clubs
Other:
- If any of the ‘Other’ options that may emerge are in the Tourism area, we should expect a major contribution from the hospitality industry in the locality. (An example: In Drumheller, Alberta Canada, the Royal Tyrell Palaeontology Museum receives the proceeds of a levy on the revenues of all the Hotels and Restaurants in the Town).
- Responsibility for maintenance would devolve upon the project/s that use the ‘other’ land.