Developers to get a €19m refund on their Metro North levies
Dublin councils will begin to refund developers the €19m in levies for the original Metro North project.
The Government revealed last week that it plans to a construct a new light rail system between Dublin Airport and the city.
However, although it will follow a similar route, the new line will require fresh planning permission, as the original railway order has lapsed.
The National Transport Authority (NTA) said that it will return the money that developers paid towards the original Metro North plan.
Fingal County Council and Dublin City Council will draw up new development levy schemes for the revised plan, which will be completed by 2026.
Existing homes and offices constructed while the last Metro was being planned will not be required to pay levies, it is understood.
However, developers will have to pay levies on any new buildings that are looking for permission in the future, according to the Sunday Business Post.
A total of €165m was spent on the previous Metro North project by the State, but with a new railway order required a significant amount of this investment could be wasted.
The Government's Capital Investment Plan, revealed last week, outlined that the new scheme includes 14 new stops - six of which are underground - with an overall length of 17kms.
There will be up to 30 trams per hour in each direction, with a tram every two minutes, taking passengers from O'Connell Street to the airport in just 19 minutes.
It's anticipated that the Metro North will carry more than 30 million passengers a year.
The NTA said it will bring "high capacity public transport to the Swords and Fingal area, which is one of the fastest growing areas of the country" and that it is a huge boon to the region.
In addition, over 3,500 jobs will be created during the construction phase.
The line will cost approximately €2.4bn (excluding VAT), but construction will not start until 2021 and it will take between five and six years to complete.