The scheme needs to be suspended because it is bad practice for Dublin City Council to collect a levy for a project that has been indefinitely suspended, it is damaging the city economy and it undermines Dublin City Councils ability to collect legitimate charges.
The Metro North Development Contribution Scheme was approved by Dublin City Councillors in 2007 and is applied to any developments within a 1km distance of the proposed Metro North line. There are three rates in the scheme Residential, Commercial and Retail. All rates are increased annually at a compound interest rate of 5%. Already Dublin City Council has collected over €3million euro and over the 30year life of the scheme expects to collect over €100million. The scheme will be in place until 2037.
Since the Government postponed the Metro North Project I have repeatedly asked Dublin City Council to suspend the Metro North Development Contribution Scheme. I have put motions to City Council to this affect but unfortunately Labour and Fine Geal Councillors have opposed my motions.