The Cork Events Centre is a project being developed and managed by Cork City Council. My Department allocated €12 million to the City Council towards the cost of the Centre. This allocation is subject to a Service Level Agreement with the City Council to ensure compliance with all relevant requirements in relation to major capital projects.
My Department recently received correspondence from Cork City Council stating that the developer has informed the Council that the overall project costs has risen to €65 million which is an increase of approximately €12m. My Department has not yet been supplied with full details of the increased costs at this stage. Cork City Council has been asked to provide additional information on the cost increases and once furnished my Department will consider the matter further.