Concerns have been expressed that the contract signed between the developer of the North Quays Project and Waterford Council stipulated that Government funding must be delivered by a deadline of January 31st.
Waterford Sinn Féin TD, David Cullinane, says he has been contacted by someone close to the Saudi developers who says the the funding for three key elements of the project, moving the train station, the pedestrian bridge and access works, must be approved by the end of this month:
"I contacted the CEO of the Council; he would not be drawn on whether or not there was a date. He did say that there is ongoing pressure obviously from the developer to get greater certainty from Government in relation to funding. He's confident that he has secured letters of comfort, if you like, from the Department that there will be multi-annual budgeting plans put in place."
David Cullinane says no clear figures have been given yet and there is a real concern from the developers that no commitment has been given from the Government:
"Given that we're now in the mouth of an election, I think it's going to be very difficult for the Government to declare that they will give the funding and they will most likely land on the shoulders of a new Government, so there's an urgency to this. I think the Council and the manager of the Council need to be clear about what exactly this means, and whether or not there is good strong communication between the Council itself and the developers because we obviously all want this project to go ahead."
He says there are now time constraints given the quick run in to this election:
"I would say to the developers to show patience, to show faith in Waterford, and to work closely with the Council at management because we have to make sure that this project goes ahead. The North Quays is a huge opportunity for development and what I want to see is the developer working closely with the Council, and when the new Government is in place, very quickly then seeing the funding."
