The Deputy Mayor of Waterford says he is confident that any issues over the compulsory purchase of land on the North Quays can be cleared up without arbitration.
Waterford City and County council have issued a CPO for over 40 acres of land in the Ferrybank area.
The majority of the land flagged for purchase is owned by the Port of Waterford, or is already under the control of the council, however the order will also impact on a local school, nursing home and on a number of small businesses.
Fine Gael Councillor John Cummins says he is confident the land ownership issue will be resolved.
He says the Council will own the land until it is sold to Al-Hokair, the Saudi developers who have plans for a large retail centre, conference centre and apartments for the site.
It is understood that Waterford city and County Council submitted an application last Tuesday (August 1st) for €61.5 million in State funding to develop infrastructure in the area.
The investment is needed to facilitate the Saudi Arabian firm’s investment in the North Quays.