Setback for docklands plan
Cork Chamber of Commerce has criticised news that the Government has deferred the Gateway Innovation Fund until 2010.
The city council had applied to the fund for a new bridge, which it proposed to construct across the River Lee, by Pairc Uí Chaoimh, to provide increased access to the docklands.
The €300 million Gateway fund was set up to stimulate development in a number of cities. The Department of Finance confirmed yesterday that a decision had been made to defer its funding for this year and 2009.
At best, it means that no money would be forthcoming for the bridge until 2010.
Cork Chamber of Commerce chief executive, Conor Healy, said the Gateway fund presented a real opportunity to finance projects which would trigger accelerated regional development and deliver major strategic economic benefits.
“Considerable focus was put into identifying projects which would lead to significant economic stimulation on both a regional and national basis. In this regard, the Eastern Gateway Bridge, linking Tivoli with the docklands was put forward as being of top priority in terms of opening up access to the Docklands and providing the stimulus and platform for future economic development,” Mr Healy said.
He said the Chamber of Commerce had been anxiously waiting for months to see if the bridge project would receive financial support.
“It is a source of huge disappointment and dissatisfaction that the complete funding programme has been deferred until 2010,” the chamber’s chief executive said.
Mr Healy said the deferral of Gateway funding seemed to fly in the face of Government comments earlier this week that expenditure on infrastructure projects was considered crucial for continued economic development.
“To alleviate the current levels of concern and to facilitate the projects moving forward, the Government must immediately confirm the proposals which will receive funding in 2010,” Mr Healy said.
CONNECT WITH US TODAY
Be the first to know the latest news and updates
