10 January 2020
By Elaine Murphy
Over €13million in funding for local large scale sports projects has been allocated, a Fine Gael Senator has confirmed.
Colm Burke said, “This funding is included in the first set of allocations under the new Large Scale Sport Infrastructure Fund (LSSIF).
“Grants announced include €9.2million for Athletics Ireland & Cork Institute of Technology Community Sport Project for the construction of a high performance athletics indoor training facility.
“A cash injection of over €1.5 million for construction of Munster Rugby’s Centre of Excellence and training facility.
“Over €2 million allocated for a Munster Centre of Excellence with Cork City Council and the FAI in Glanmire.
“€613,048 announced for Rowing Ireland’s water training facility and access for the National Rowing Centre in Farran.
“I am delighted to see this money allocated it will mark a significant improvement to our community.
“Sport has the capacity to knit communities together and it is important that we continue to invest in sport at a local level. These major projects are the first to be funded under this new model and I am delighted to see that Cork will benefit.
Minister Griffin said “This is a very good day for Irish sport. Our priority remains to get as many people participating in sport as possible. The successful projects announced today include a mix of sports stadia which will be graced by our elite athletes but also swimming pools and other sports facilities which will be used by all ages and abilities. Of course, seeing their sporting heroes competing at iconic venues also inspires young people to participate in sport”.
While the Government is investing €77m the full cost of all projects will be in the region of €221m. A full list of the successful applications is attached.
All of these projects will now undergo further assessment and a due diligence procedure under the evaluation procedures for the LSSIF. The extent and nature of the validation and due diligence process will vary depending on the size and nature of a project to include a detailed analysis of the Financial and Economic Appraisal of the project as appropriate.
While today’s announcement relates to those projects that applied for funding for construction of facilities, a further announcement will be made in the near future in respect of Stream 1 applications. These applications were for grants towards the cost of developing projects to the point that an application for delivery phase funding can be submitted in the future.Follow TheCork.ie (The Online Newspaper for Cork, Ireland) on social media