Background:
Earlier this year the largest ever allocations of Sports Capital funding was announced. This funding will greatly enhance the availability of quality sports facilities in Co. Offaly.
As with all capital projects, a grant from the Department does not cover the entire cost of a capital project. Clubs have to make up the shortfall through their own savings or loans from financial institutions.
When applying for funding, clubs submitted project quotes based on 2021 prices. Most projects will be more expensive than the original quote due to ongoing inflation.
The county also has a number of clubs interested in applying under the next round of Sports Capital Programme. These clubs will also need to factor inflation into their project planning.
Purpose of the Workshop: The purpose of the workshop is four-fold: -
i. To get an indication of the extend of inflation on clubs provisionally approved for Sports Capital funding
ii. To get an indication of how successful applicants are proceeding to the next step in the delivery of their project (specifically to determine if many will experience delays due to financial short falls)
iii. To plan in advance for the next round of funding
iv. To look at the lending options provided through non-traditional financial institutions (e.g. Social Finance Trusts, Credit Unions etc.)
