Cabinet Approves Multi-Million Euro Funding Proposal For Shannon Heritage Takeover
A funding proposal aimed at securing the transfer of the management of the Clare assets of Shannon Heritage from the Shannon Airport Group to Clare County Council has been approved by cabinet. In excess of ten million euro is to be offered to the local authority, with six million upfront this year, and a commitment from the OPW to continue funding over the next three years for the provision and upgrade of facilities. At the end of last year, the Council turned down a 2.5 million euro offer, which is said wasn't sufficient, with it's due diligence report outlining that 15 million euro is needed prior to that. The local authority says no offer of a funding package has been received in 2023 to date, but negotiations regarding the proposed transfer are ongoing with the Department of Transport. Clare Fianna Fáil Senator Timmy Dooley has been telling Clare Fm's Fiona Cahill that he's hopeful this offer will get over the line.