My Department has entered into three separate contracts to design, build, finance, maintain and operate educational accommodation under the Public Private Partnership (PPP) model in the last five years. Two third level projects, the National Maritime College Cork completed in 2003 and the Cork School of Music completed in 2007 are now operational. In addition the contract for the first bundle of post primary schools which includes Coláiste na Sionna, Banagher and Gallen Community School, Ferbane, both Co Offaly and Scoil Chríost Rí, Portlaoise and St Mary's CBS, Portlaoise, Co. Laois, was signed by the National Development Finance Agency in March 2009.
This bundle is part of an on going programme of Public Private Partnership projects and as the financial details associated with this contract are viewed as commercially sensitive I am not in a position to release this information to the Deputy. Each of these contracts are for 25 years from the date the facilities became operational. The site and buildings remain in State ownership at all times with the PPP Company being granted a licence to build the facilities and maintain and operate them for the 25 years contract period.
The level of Unitary Payment for the two third level projects in 2008 were National Maritime College €8.8m and the Cork School of Music €8.2m.