The money comes a week after a tranche of €200,000 euro was secured from the Department of the Environment last week.
Deputy Ellis said: "Of course we must welcome this development. Residents of Gleann Riada have been campaigning hard for their concerns to be treated with the seriousness they deserve. Their homes have been described as dangerous by the HSE and are not suitable current for habitation.
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"I visited the site in recent months and was shocked and disturbed by what I saw. These families are living in fear, with two explosions in the last twelve months and many people feeling ill, their children missing school.
"I commend Longford County Council on securing a developers bond of €360,000 to carry out work on Gleann Riada estate.
Recently a survey has been carried out to ascertain the extent of the problems on the estate and I hope that work will start soon to make the estate safe and habitable.
"I would restate my opinion and the opinion of residents though that while this estate, which received planning from the County Council, under the Department of Environment, is unsafe the state has a duty of care to protect these families and they must be evacuated."
(CD/GK)
