New funding stream for Pairc Tailteann project

Meath Co Board chairman John Kavanagh told delegates at last night's meeting, held in a digital format, that a Government Immigrant Investment Programme could boost funding for Pairc Tailteann's redevelopment.

This programme was set up by the Government back in 2012 and is aimed at facilitating migrant entrepreneurs and investors from outside the European Economic Area who wish to reside in the State and are prepared to invest in certain projects.

The chairman said this was something Meath Co Board officials had been working on over the past 12 months and they had already secured one investor to the tune of €400,000.

According to the chairman there are four more investors for the same amount in the pipeline. Fees of 15 per cent (€60,000) must be set aside on every €400,000 secured.

Kavanagh said a substantial amount of work had gone into this project by the members of the infrastructure committee.

Croke Park had also been involved and had praised Meath on their 'outside-the-box' thinking.

The chairman assured delegates that there was 'no hidden agenda' involved in the process and also stated that there was no limit to the number of investors.

The chairman had referred to a potential new source of funding at a Co Board meeting in 2020 and had told delegates at the time that more information would be available in 2021.