Mary Harney
Question:69 Miss Harney asked the Minister for Enterprise and Employment if he will release a grant of £7,500 awarded by the county enterprise board to a company (details supplied) to enable this business to continue trading.
Written Answers. - County Enterprise Fund.
Capital grants from the County Enterprise Fund are available for the construction and modification of premises and for the purchase of capital goods and equipment. Where such grants are made, a lien is taken on the asset in question in order to protect the public funds invested, and to secure the benefit conveyed by the grant on the promoter by reference to a specific performance criterion. Since this would not be possible in relation to leased assets, CEF capital grant asistance is not provided in such cases.
I should mention that county enterprise boards are empowered to consider making employment grants to promoters as an alternative to capital grants in appropriate, qualified cases. This mechanism could be applicable in the case in question.