Oireachtas Joint and Select Committees
Thursday, 10 December 2015
Public Accounts Committee
Waterford Institute of Technology: Financial Statements 2013
Cork Institute of Technology: Financial Statements 2013
1:10 pm
Mr. Seán Ó Foghlú:
Yes, by way of loan. The Manor Village project was estimated to cost €7.5 million but that cost was reduced through negotiations by WIT such that the loan required in respect of the purchase was €7.1 million, which left €2.9 million available to complete phase 3. Following discussions between the Department and WIT, we agreed to provide an additional €2.1 million. I think WIT also has additional funding of €200,000 available to it from another source.
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