Additional funding for the development of the Cork Event Centre
The Department of Culture, Heritage and the Gaeltacht confirmed today (21 December) that it has written to Cork City Council on the provision of additional public funding for the development of the Cork Event Centre.
Following detailed consideration and in light of the additional works which are now required for the Cork Event Centre, the Department considers that, in accordance with public procurement rules, the total public funding for the project may be increased by €10 million to €30 million, made up of grant aid of €21 million and a repayable loan of €9 million.
The Department will meet with Cork City Council in January to discuss all aspects around the public funding elements of the project. All State funding will be subject to adherence to the requirements of the Public Spending Code and Public Financial Procedures.