Despite various queries in relation to the promise of funding for the Fermoy Weir refurbishment project from the monies borrowed from the European Investment Bank, Cork County Council have this week confirmed that Fermoy Weir has been included in the indicative list of projects, if national funding is secured.
In a statement to The Avondhu this week, Cork County Council said it as they have ‘an expectation that national funding may be secured for Fermoy Weir, we have included this project in the indicative list'.
“This means that, should national funding become available, we would have an identified source of match funding to move quickly on progressing the project. Cork County Council will not be able to progress this project without significant funding support from government,” read the statement.
“The current consultancy contract covers the detailed design, planning approval and statutory consent processes. Detailed cost estimates for this project are expected to become available in 2020 as design work is progressed.
“The project will then be reviewed in terms of compliance with the public spending code and availability of funding before a decision can be made on advancing to the construction stage,” it was added.
The news broke on December 5 when Cllr Frank O’Flynn told The Avondhu that Fermoy Weir was one of the projects listed to be allocated funding from the large loan.
Cork County Council explained in their statement this week that they have reached agreement in principle with the European Investment Bank and the Council of Europe Development Bank on a framework loan package relating to a Social Sustainability Investment Programme.
“The framework loan funding will enable Cork County Council to provide match funding where other sources of funding are confirmed through mechanisms such as Rural Regeneration Development Fund, Urban Regeneration Development Fund, Town & Village Renewal, Fáilte Ireland etc,” read the statement to The Avondhu this week.