Council to take control of two PMVT properties

The council will take ownership of two properties from The Peter McVerry Trust (PMVT) as part of a Government deal to recoup emergency funding provided during the charity's recent financial crisis.

The Cavan properties, some of which are already occupied, will continue to be used for social housing.

PMVT, founded by Jesuit priest Fr Peter McVerry, received €15M in emergency State funding in November 2023, approved by then Housing Minister Darragh O’Brien. This followed serious financial and governance issues flagged in reports by charity regulators, housing oversight bodies, and the Comptroller and Auditor General.

Between 2018 and 2022, PMVT received €164.3M in State funding and €72.6M in donations. Its housing assets were valued at €162.33M at the end of 2022, according to filed accounts.

As part of the rescue package, the Government arranged to recover the €15M through the transfer of unencumbered properties to local authorities.

PMVT owns 54 such properties, with 27 - valued at €7.89M - being transferred to Dublin City Council.

The remaining 27 are being allocated to other local authorities, including Cavan.

The transferred properties include a mix of residential houses and apartments.

A spokesperson for Cavan County Council confirmed to The Anglo-Celt that it “will be taking ownership of two McVerry Trust properties in County Cavan”, and furthermore assured that any existing tenancies will remain “unaffected by this process”.