€150,000 has been allocated to the Glen Preschool, Glen Avenue by Pobail.

Glen Preschool

Cllr. Kenneth O'Flynn has welcomed the announcement that €150,000 has been allocated to the Glen Preschool, Glen Avenue by Pobail.

As a result of this funding, the Pre School will be able to construct a new playground and will also be able to put in place additional prefabs, as well as setting up activates for 6-12 year olds.

Speaking on this the Fianna Fáil Councillor said; “This is great news for the staff, parents and pupils of the Glen Preschool. This is an opportunity for the school to expand and upgrade its facilities which will be a great benefit to all involved with the school.”

The money will be distributed via the Community Enterprise Directive of Cork City Council, who in conclusion Cllr. O'Flynn praised for their continuing good work for the development of the City .

Free Parking

Free parking







Cork City Councillor Kenneth O’Flynn has placed a motion before Cork City Council calling for two hours of free parking to be introduced on North Main Street and Paul Street car parks every Saturday between 9am-11am. Cllr. O’Flynn said; “City Council must give business the lead with ideas like this which not only benefit the consumer, but also allow people the freedom and ease to come into town, park their car for free for a period of time and not have to worry about cost or the clampers.” Cllr. O’Flynn believes his motion would not just benefit the local economy but inspire retailers to take further initiative to boost their own business in a way that is cost effective and fair to consumers.

Having met with leading members of the Cork business community in the past number of months, Cllr. O’Flynn has found that Saturday trading in the City is at an all time low. Speaking on this he said; “With centres like Mahon point, Blackpool, Douglas and Wilton Shopping Centre with free parking all day the incentive is for consumers to go to these destinations and shop at their leisure. If we in the City can allow them the two free hours parking, we give them a greater incentive to return to the City Centre and not to worry about having to pay high car park fees.” Councillor O’Flynn stated his belief that in particular this would be a huge boost to the faltering Saturday trade in the City.

Encourage entrepreneurs

Encourage entrepreneurs




Cllr. Kenneth O'Flynn has placed a motion before Cork City Council calling on the Council to introduced staggered rates new business wishing to set up in the City. Speaking on this O’Flynn said; “As part of my motion I called for the Council to introduce staggered rates whereby in the first year the person setting up the business would not have to pay rates, in the second year they would only pay half rates and in the final year quarter rates.” Councillor O’Flynn stated that he believes such a plan will allow entrepreneurs a foothold in the City to establish their business and he believes that they would thrive over the three years, without being burdened by full rates.

Councillor O’Flynn stated that City Council should concern itself more with encouraging the establishment and growth of business in the City, rather then putting barriers in its way. He believes that motions such as this are steps towards encouraging growth and assisting business people to not just get their business started but to make them successful.

Minister for Communication to index link the television licence.

Fianna Fáil Councillor Kenneth O’Flynn has called on the Minister for Communication to index link the television licence.

Speaking on this O’Flynn said; “RTÉ have been pointing out significant salaries paid to bankers, politicians and public servants. Yet their ‘stars’ are all paid in excess of An Taoiseach or Barack Obama.”

Continuing O’Flynn said; “RTÉ have failed to deliver in terms of commitments it made when it had a significant increase in the licence fee back in 2001, when Síle de Valera was Minister and given that they have argued the licence fee be index linked that now with deflation the fee should be reduced.”

O’Flynn has stated that he believes that RTÉ essentially has index linked its television licence fee to match the rate of inflation it is now time to bring the fee in line with deflation and reduce it; In February 2009, the CSO announced that during January 2009, the country experienced deflation, with prices falling by 0.1% from the same time in 2008. This is the first time deflation has hit the Irish economy since 1960. Overall consumer prices decreased by 1.7% in that month.Minister Lenihan in an interview has stated that month-on-month there has been a 6.6% decline in the cost of living this year.”

In light of the deflation statistics Cllr. O’Flynn says that he feels a move to index link the television licence to deflation and make a cut in its costs.

What is the Breakdown for the €72 Billion Exposure,

What is the Breakdown for the €72 Billion Exposure,

Please see below a breakdown of the Liabilities of Anglo Irish Bank. The €72 billion figure is a relatively fluid figure as it is affected by currency changes and also some elements of the liabilities might not need to be paid in full if the bank were instantly liquidated.
Key Elements of Anglo Irish Bank’s Balance Sheet (End June 2010)
Deposits from Banks €33.3 bn
Customer Deposits €23.2 bn
Debt securities in issue €16.5 bn
Subordinated Liabilities €2.5 bn
Derivative Financial Instruments €4.4 bn
Other elements €0.5 bn
Total Liabilities €80.5 bn
What were the Recent Changes Announced by Government in Relation to Anglo Irish Bank, Asset Recovery Bank & Investment Bank,
The Government decided that Anglo Irish Bank will be split into a Funding Bank and an Asset Recovery Bank. Anglo Irish Bank has not expanded its loan book since it was nationalised in early 2009 and this will remain the case. It is intended that in due course the Recovery Bank will be sold in whole or in part or that its assets will be run off over a period of time.
The guaranteed position of depositors will be unchanged by the new arrangements. The depositors will become customers of the Funding Bank which will be fully capitalized and continue as a regulated bank.
What is the Purpose of the Change & what will be the End Result
"Today’s decision by the Government will provide certainty about the future of Anglo Irish Bank. Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system."-Minister Brian Lenihan
Under the restructuring plan, the Funding Bank will be a Government-backed/guaranteed specialist deposit bank which will contain the bank’s deposit book. It will be a stand-alone, regulated bank, completely separated from Anglo’s loan assets and it will be owned directly by the Minister for Finance. This bank will not engage in any lending, but will provide a secure home for Anglo’s depositors and any new customers who wish to deposit their funds with it. Depositors with the Funding Bank will be completely insulated from the future performance of the rest of the current Anglo Irish Bank loan book.
The Asset Recovery Bank will also be a licensed regulated bank. Its dedicated focus will be on the work-out over a period of time of the assets not being transferred to NAMA in a manner which maximises the return to the taxpayer.
The Government believes that it is essential to identify, with as much certainty as possible, the final cost for the restructuring and resolution of the bank. This will underpin international financial confidence in Ireland. Accordingly, the Central Bank will determine the appropriate levels of capital needed in both institutions. Its decision will be announced by October.

What is the Breakdown for the €72 Billion Exposure,

Please see below a breakdown of the Liabilities of Anglo Irish Bank. The €72 billion figure is a relatively fluid figure as it is affected by currency changes and also some elements of the liabilities might not need to be paid in full if the bank were instantly liquidated.
Key Elements of Anglo Irish Bank’s Balance Sheet (End June 2010)
Deposits from Banks €33.3 bn
Customer Deposits €23.2 bn
Debt securities in issue €16.5 bn
Subordinated Liabilities €2.5 bn
Derivative Financial Instruments €4.4 bn
Other elements €0.5 bn
Total Liabilities €80.5 bn
What were the Recent Changes Announced by Government in Relation to Anglo Irish Bank, Asset Recovery Bank & Investment Bank,
The Government decided that Anglo Irish Bank will be split into a Funding Bank and an Asset Recovery Bank. Anglo Irish Bank has not expanded its loan book since it was nationalised in early 2009 and this will remain the case. It is intended that in due course the Recovery Bank will be sold in whole or in part or that its assets will be run off over a period of time.
The guaranteed position of depositors will be unchanged by the new arrangements. The depositors will become customers of the Funding Bank which will be fully capitalized and continue as a regulated bank.
What is the Purpose of the Change & what will be the End Result
"Today’s decision by the Government will provide certainty about the future of Anglo Irish Bank. Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system."-Minister Brian Lenihan
Under the restructuring plan, the Funding Bank will be a Government-backed/guaranteed specialist deposit bank which will contain the bank’s deposit book. It will be a stand-alone, regulated bank, completely separated from Anglo’s loan assets and it will be owned directly by the Minister for Finance. This bank will not engage in any lending, but will provide a secure home for Anglo’s depositors and any new customers who wish to deposit their funds with it. Depositors with the Funding Bank will be completely insulated from the future performance of the rest of the current Anglo Irish Bank loan book.
The Asset Recovery Bank will also be a licensed regulated bank. Its dedicated focus will be on the work-out over a period of time of the assets not being transferred to NAMA in a manner which maximises the return to the taxpayer.
The Government believes that it is essential to identify, with as much certainty as possible, the final cost for the restructuring and resolution of the bank. This will underpin international financial confidence in Ireland. Accordingly, the Central Bank will determine the appropriate levels of capital needed in both institutions. Its decision will be announced by October.


What is the Breakdown for the €72 Billion Exposure,

Please see below a breakdown of the Liabilities of Anglo Irish Bank. The €72 billion figure is a relatively fluid figure as it is affected by currency changes and also some elements of the liabilities might not need to be paid in full if the bank were instantly liquidated.
Key Elements of Anglo Irish Bank’s Balance Sheet (End June 2010)
Deposits from Banks €33.3 bn
Customer Deposits €23.2 bn
Debt securities in issue €16.5 bn
Subordinated Liabilities €2.5 bn
Derivative Financial Instruments €4.4 bn
Other elements €0.5 bn
Total Liabilities €80.5 bn
What were the Recent Changes Announced by Government in Relation to Anglo Irish Bank, Asset Recovery Bank & Investment Bank,
The Government decided that Anglo Irish Bank will be split into a Funding Bank and an Asset Recovery Bank. Anglo Irish Bank has not expanded its loan book since it was nationalised in early 2009 and this will remain the case. It is intended that in due course the Recovery Bank will be sold in whole or in part or that its assets will be run off over a period of time.
The guaranteed position of depositors will be unchanged by the new arrangements. The depositors will become customers of the Funding Bank which will be fully capitalized and continue as a regulated bank.
What is the Purpose of the Change & what will be the End Result
"Today’s decision by the Government will provide certainty about the future of Anglo Irish Bank. Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system."-Minister Brian Lenihan
Under the restructuring plan, the Funding Bank will be a Government-backed/guaranteed specialist deposit bank which will contain the bank’s deposit book. It will be a stand-alone, regulated bank, completely separated from Anglo’s loan assets and it will be owned directly by the Minister for Finance. This bank will not engage in any lending, but will provide a secure home for Anglo’s depositors and any new customers who wish to deposit their funds with it. Depositors with the Funding Bank will be completely insulated from the future performance of the rest of the current Anglo Irish Bank loan book.
The Asset Recovery Bank will also be a licensed regulated bank. Its dedicated focus will be on the work-out over a period of time of the assets not being transferred to NAMA in a manner which maximises the return to the taxpayer.
The Government believes that it is essential to identify, with as much certainty as possible, the final cost for the restructuring and resolution of the bank. This will underpin international financial confidence in Ireland. Accordingly, the Central Bank will determine the appropriate levels of capital needed in both institutions. Its decision will be announced by October.

http://www.nama.ie/Publications/2010/NamaAWorkingSolutionPresentation14Sept2010.pdf

Cut Rates & Keep Jobs

Cllr. Kenneth O'Flynn has called upon the Government to begin a revaluation of properties as the last significant valuation of commercial property has been carried out since 2007 the height of the property boom in order to cut rates for business and protect jobs. Speaking on this O’Flynn said; “170,000 properties were valued at the height of the boom back in 2007, no substantial valuation has taken place since. Businesses are paying boom rates but taking in recession receipts “

Continuing on this O’Flynn said; “It is evident that the current local authority rating system, which is used to calculate the commercial rate liability of a business, is not fair. The Valuation Act of 2001 was supposed to bring in a rating system which has enabled safe and certain revenue for the local authorities every year, while also allowing commercial businesses to plan ahead due to the fact they would know their liability for next year, but it does not take account of falling property prices”



Cllr. O’Flynn who is himself a businessman was sceptical stated “many commercial premises have fallen in value by 28 to 30 percent and even though their commercial rates liability are connected to the value of their premises, commercial rates are still allowed to rise by the level of inflation even after a downwards revaluation .”

This in Councillor O’Flynn’s opinion is; “This is producing devastating results for businesses as they are also dealing with shrinking revenue due to the recession which is effectively putting them in a position where costs are rising and income is falling. An article I read in July, said that commercial rates in the city are now almost equating to 30 percent of their rental costs when taking into consideration that some rental prices have dropped to reflect the drop in sales. While rental prices, the value of the buildings and business revenue are all going south, commercial rates have neglected to reflect the change in the economy.”

In conclusion O’Flynn said; “It also must be asked what is the point in valuing every commercial business in the country, when in reality the commercial rates will depend on the fiscal requirements of the local authority as oppose to their value.” Councillor O’Flynn also stated his desire to bring these matters up directly with Minister Brian Lenihan at the next National Executive meeting

Your chance tomorrow to volunteer for work overseas

Your chance tomorrow to volunteer for work overseas

IRISH AID, the Government’s overseas development programme, will host “the largest overseas volunteering fair ever held in Ireland” this Saturday.

The fair aims to highlight long and short-term volunteering opportunities in developing countries. It will be held in the Irish Aid Volunteering and Information Centre in Dublin, with 29 organisations taking part, including GOAL, USIT and Slí Eile as well as Irish Aid.

The fair is free and open to the public. It will run from 11am until 4pm, and according to Overseas Development Minister Peter Power is “the perfect opportunity for individuals looking to get involved in volunteering abroad to discuss their options with volunteer-sending organisations”.

Speaking ahead of the fair, Minister Power encouraged those interested in overseas volunteering to attend…

Events such as this also help to promote synergies among organisations working in volunteering. The health and safety of development workers and volunteers overseas is of crucial concern and it is very important that volunteers are managed in a professional way. The Volunteering Fair will showcase the Irish Volunteering Code of Practice which supports organisations that manage and work with volunteers.

Visitors to the Fair will be able to meet with representatives of the organisations and past volunteers, and attend workshops on volunteering options. There will also be presentations on the work and requirements of several of the organisations.


Meanwhile next week Minister Power will accompany Foreign Affairs Minister Micheál Martin to New York to attend a “major” meeting on hunger.

Micheál Martin and the US Secretary of State Hillary Clinton will co-host a meeting of international leaders to address world hunger and under-nutrition.


The event, 1,000 Days: Change a Life, Change the Future Partnering to Reduce Child under-nutrition, will be attended by world leaders, international organizations, civil society and the private sector.

It is designed to “highlight action to reduce child under-nutrition, focusing on programmes targeted at the 1,000 day window of opportunity, the period beginning with a woman’s pregnancy and continuing until a child is 2 years old”.

Cllr. Kenneth O'Flynn has welcomed the proposed Blackpool Development Plan which is to be voted upon shortly by members of Cork City Council.

Cllr. Kenneth O'Flynn has welcomed the proposed Blackpool Development Plan which is to be voted upon shortly by members of Cork City Council.



Speaking on this the Northside Councillor said that there have been certain criticisms raised with regards to the issue of dereliction. O’Flynn however said that he feels under the leadership of the new City Manager, Tim Lucey, the issues relating to dereliction will be tackled. O’Flynn said; “Speaking to the new manager last Monday at a private meeting, he certainly inspired me with confidence that he is willing to take action on these issues and work with public representatives to make the Plan work for the benefit of Blackpool.”



O’Flynn did however stress that the spine plan for Blackpool must be completed before the new plan can be put into action. On this he said; “the finger posts to Blackpool Village must be erected, the ornamental plaques indicating the lanes of old Blackpool must be laid and a map must be put in place on the plaza outlining the historical areas of interest in Blackpool.”



On the continued issue of flooding O’Flynn said; “the threat of flooding in Blackpool remains for residents and business alike. I have stressed that provisions be made to combat this and find a solution to stop the flooding as presently businesses in Blackpool are finding it increasingly difficult to be insured as a consequence of the flooding.”



O’Flynn concluded by saying when the spine plan is completed and the proposed Blackpool Development Plan implemented, the area will have the potential to be one of the cities primary locations.

fuel allowance

You May be entitled to receive the fuel allowance, which is now being paid to eligible persons. Fuel allowance payments have now recommenced for eligible persons and will continue through to next April. The scheme operates for 32 weeks each year from September to the end of April. The Fuel Allowance is a payment under the National Fuel Scheme to help with the cost of heating your home. It is paid to people who are dependant on long-term social welfare or Health Service Executive (HSE) payments and who are unable to provide for their own heating needs

you may want to log on to http://www.citizensinformation.ie/categories/social-welfare/social-welfare-payments/extra-social-welfare-benefits/fuel_allowance

Cork Walk of Fame Commemorate the Famous Corkonian’s

Cllr. Kenneth N. O’Flynn has put forward a motion to Cork City Council, calling on the Council to put in place a walk of fame on Cook Street to Commemorate the famous Corkonian’s who over the years have contributed to the reputation of the City both locally, nationally and internationally.

Speaking on this the Northside Councillor said; “Cork has a rich heritage and can boast an impressive list of people who have contributed to the reputation of the City in various fields. For example of the top of my head I can think of several people fror example with Literature Frank O’Connor, with Sport Roy Keane and
Christy Ring in Theatre Joe Lynch in Politics Jack Lynch, with Music Seán Ó Riada and Cara O’Sullivan. While in Industry we have the two great distilling names the Beamish and Murphy Families and in Science, the mathematician George Boole.”

Cllr. O’Flynn believes that the project would not just offer a fitting tribute to these famous names but that it would also become a premier tourist attraction in the City Centre.

Apps for Cork

Cllr. Kenneth N. O’Flynn has put forward a motion to Cork City Council, calling on the Council to develop an application for iPhones and Satellite Navigation devices which would allow users the opportunity to download for free the historical points of interest in Cork City.

Speaking on this Cllr. O’Flynn said; “I think that this would be a good way for the City to provide an easy to use and informative virtual tour of Cork City allowing them to access points of interest and get the relevant information on these places.”

Continuing the Northside Councillor said; “in drafting the motion I asked that in developing this application, the Council pay particular attention to the historical walking tours which have been set up by Cork City Council in the past year. I know myself that the walking our on the Northside of the City based around Shandon has been agreat success and brought many people to the area with an interest in
history and the rich heritage of Cork.”

Bike Sharing Scheme

Cllr. Kenneth O’Flynn has welcomed a reply to a motion that he put before Cork City Council, in which he called upon the Council to implement a bike sharing scheme. In the reply the Roads Control Division and representatives of the Planning Department have begun to investigate the options available to fund public amenity projects such as the Public Bike Scheme.

Cllr. O’Flynn welcomed what he says is; “the first step in the right direction by the Council in relation to this scheme.” Bicycle sharing are increasingly popular, a number of bicycles are made available for shared use by individuals who do not own the bicycles. Public bicycles are a mobility service, mainly useful in urban environment for proximity travels. It is able to remove three difficulties of daily cycling use: home parking, theft and maintenance of your private bicycle.

The reasons for implementing bicycle sharing systems are as numerous as the forms the systems take. Recently and most notably, municipal governments, including Dublin City Council, have promoted systems as part of intermodal transportation, allowing people to shift easily from other forms of transport to bicycle and back again. However, for years community groups have promoted bicycle sharing as an easily
accessible alternative to motorized travel, hoping to reduce the carbon footprint of commuting as well as enable residents to become healthier through exercise.

Helping Home Owners

Helping Home Owners

Support for Mortgage Holders in Difficulties

The tradition of home ownership is very strong in Ireland. Successive governments facilitated home ownership in a variety of ways including in via mortgage interest tax relief. I The OECD has concluded that Ireland has one of the most ‘tax-friendly’ housing environments in the world. Banks and Building Societies which are registered with the Financial Regulator must under the Code of Conduct on Mortgage Arrears make every reasonable effort to agree an alternative repayment schedule with borrowers who find themselves in difficulties.

Registered lenders are required under the terms of the Code to give consideration to alternatives such as deferral of payments, extended terms of mortgage, changing the type of mortgage or capitalising arrears and interest.

On the 5th February the Financial regulator wrote to all mortgage lenders informing them that from 17th February the Statutory Code of Conduct on Mortgage Arrears has been amended where arrears have arisen on a borrower’s primary residence. The Regulator’s initiative followed a request from the Minister for Finance that the ‘waiting period’ be doubled as a means of taking pressure off mortgage holders who were experiencing difficulties.

Registered lenders are now required to allow at least 12 months from the time arrears first arise before applying to the Courts to commence legal actions.

In addition to the Code of Conduct, the Irish Banking Federation has announced that its members will hold off on legal action against those in difficulty as long as the borrowers who are in difficulties stick to mutually acceptable arrangements that are put in place to deal with the debt. These arrangements are subject to six monthly reviews.

Advice for mortgage holders with problems is available through the Money Advice Budgeting Services (MABS).

The Money Advice Budgeting Services (MABS) provides a free, confidential and independent service for people who find themselves in difficulties particularly with mortgage arrears.

The Government has recently increased the advisory services provided through the Money Advice Budgeting Services (MABS).

The Irish Banking Federation and MABS have agreed an operational protocol which will enable MABS and the Irish Banking Federation to work closer with each other, to help people who find themselves in difficulties.

In addition to the advice and guidance through MABS the Government, in the most recent budget, refocused mortgage interest relief on those who bought their homes at the peak of the market.

The Government is also providing financial support to over 15,000 families, through the Mortgage Interest Subsidy Scheme.

With an eye to the longer term the Government has established a Review group on Mortgage Arrears. Headed up by the Department of Finance the Group is examining problems arising from both mortgage and non-mortgage debt, considering measures to assist people with mortgage arrears to keep possession of their family home and examining measures adopted in other countries to deal with this problem. The Group will report on a rolling basis on the most sensible and effective way to deal with these problems.

PRSI Scheme to Create Jobs

PRSI Scheme to Create Jobs



Under the Government’s latest job creation initiative €36 million will be made available to businesses that create jobs.
Under a new Government initiative, an employer who creates new jobs for people who have been out of work for 6 months or more will be fully exempt from PRSI liability for the first year of that employment.
The scheme will save an employer in the region of €3,000 from the annual cost of employing an additional worker.
The Employer Job (PRSI) Incentive Scheme will help to create jobs and help to get people who have lost their jobs back to work.
The scheme, which will be open to applications in relation to any job created in 2010, is being specifically targeted at people who have been out of work for 6 months or more because evidence suggests that that after 6 months on the Live Register there is a danger that people will drift into long-term unemployment.
An employer will not have to pay PRSI for 12 months from the time an application is approved.
There are a number of safeguards built into the scheme to ensure that it has maximum impact and prevents any abuse:
 The job must be full-time and must be new and be additional: employers will not be allowed to substitute existing employees to avail of the scheme.
 The job must last for six months or more. If it does not the PRSI exempt amounts will have to be repaid by the employer.
 The employer will be required to furnish an up-to-date Tax Clearance Certificate.
 Employers will be limited to a maximum participation rate of 5% of their existing workforce or, for smaller companies, a maximum of 5 new jobs.

New Law to Govern Property Management Companies

New Law to Govern Property Management Companies

The Government has introduced legislation in Dail Eireann which will be of particular interest to apartment owners and to people with homes in ‘mixed developments.’ The new legislation, the Multi-Unit Development Bill 2009, will regulate new and existing management companies.

The legislation, implements recommendations made by the Law Reform Commission on the regulation and management of apartment blocks and other multi-unit developments in June 2008

The legislation provides a legal framework that will govern the establishment and operation of management companies. It also provides for the transfer of ownership of common areas within apartment block or other multi-unit developments.

The Bill introduces statutory regulation in this area for the first time. It addresses issues relating to the obligations of developers, the operation of management companies and protects the owners of new and existing units in apartment blocks and other forms of multi-unit developments.

Critically the Bill provides for the transfer of common areas to owner management companies prior to the sale of any units in an apartment block. This will overcome the difficulty faced by many buyers of apartments where developers continued to effectively hold control of common areas, a feature that some developers sought to exploit through the operation of management companies which they continued to control.

The Bill also makes provision for voting rights and sets out regulations for the establishment and maintenance of schemes for service charges. It makes mandatory the provision of sinking funds necessary for the long term care and maintenance of apartment blocks. The legislation also sets out mediation and a court based resolution system for resolving disputes.

The legislation together with the recently published Property Services (Regulation) Bill 2009, will, when in operation bring a very important new form of regulation into Irish property management. It will transform the regulatory environment for management companies, impose new obligations on developers and give new powers to apartment owners.

The National Consumer Agency has welcomed the publication of the bill as representing a “good day for consumers”. The agency has specifically welcomed the obligations to transfer common areas to owner management companies and the extinguishment of the beneficial interests of the developer on completion of a development. It welcomed the transparency in relation to service charges and the statutory requirements to create a sinking fund.

The Apartment Owners Network which supports campaigns for Irish apartment owners has also welcomed the publication of the bill.