Updated: Wednesday, 08 Apr 2015 15:28 | Comments
The Cork County Board has denied newspaper reports that Government officials have withheld funds pledged towards the redevelopment of Páirc Uí Chaoimh.
A report in today's Irish Independent claims that an initial payment of €10million from public funds towards the redevelopment costs has been held back following concerns by the Department of Public Expenditure and Reform.
The report claims that worries over the County Board's cost-benefit analysis report, specifically projected attendances for non-sporting events, is the main reason for the funds being withheld.
However in a statement the Cork County Board denied that any money had been withheld and insist that they are "fully engaged" with the Department and that talks are ongoing.
"No State monies have been withheld from the project and no drawdown of monies has been requested by Cork County Board," the statement read.
"An initial Cost Benefit Analysis draft on the project was submitted in December 2014 and is the subject of ongoing dialogue with the relevant officials in the Department of Public Expenditure and Reform.
"It is entirely appropriate and is the norm that any case being made for the expenditure of public monies would be subject to rigorous examination. Cork County Board is fully engaged with the Department in that process.
"The Board is confident that the basis of the business case for the redevelopment of Páirc Uí Chaoimh is correct and will be pleased to provide any further information or clarification requested by the Department as part of the process now underway."
Public Expenditure Minister Brendan Howlin last year announced that the Government would contribute €30m towards the redevelopment costs of the stadium, which is believed to cost €70m in total.
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