Minister gives green light to CIT expansion

Or should that read… former CIT lecturer gives CIT green light to buy development site!

breakingnews.ie/text/ireland/eymhaueyojgb/

5.8m seems a lot for this site IMO.
Can’t imagine too much competition for it n especially say when you look at the 10m valuation the council put on the compulsary aquisition of the show grounds… a much bigger site.

That’s its loooooong term economic value.

All state bodies are paying this amount for stuff now.

It can’t be LTV… the LTV is much highter… didn’t anyone tell ye lads… Cork is different :slight_smile:

They never stop telling us… :angry:

Um. If Tyco-Sensormatic don’t need the land why are they leasing it from the IDA?

If the CIT do need it why don’t they lease it or buy it from the IDA?

Why is some Multi-National that doesn’t need the land sitting in the middle of two Irish Organisations,
creaming off a profit each month?

I was under the impression that the IDA leased out space to companies who might possibly do some work,
create some jobs. Are we grant aiding professional sub letters now?

-Rd

It’s the bounty that Lenny was referring to elsewhere… Bend over with your green jersey will ye…

OMG! I’m absolutely furious. I’m seeing red. Over the last 18 months or so there have been severe cutbacks in the Cork School of Music (CSM). These cutbacks started as soon as the CSM was taken over by CIT. CSM runs full-time degree courses, like other third level colleges but it also has a very long history of providing top class music lessons to children 5 years and up. Many generations of children/teenagers have gone through CSM - it has a wonderful history and record. Temporary music teachers (who have taught there for many years) have been laid off and this year there were hardly no new places offered to students. Some classes (classical guitar being one) took on zero new pupils in '09. Fees have also increased.

Now this! 5.8 million to extend the campus? That’s unbelievable. I know they’ll say that’s for capital expenditure and nothing to do with the day to day running of the place. But honestly if CIT can be given this money to extend (christ, they just extended recently - how big does the place need to get???) and yet they’re laying off teachers and turning away kids? This is a travesty.

To continue the irrational rational questions that daltonr started, why is the IDA not enforcing a contract break fee on Tyco? And then leasing to CIT at the current market rate?

Could this be something to do with the high yields in Ireland?

What apprentice activities would need seven acres of land. Computer based applications – unlikely. Receptionists – unlikely. I’ll take a wild guess that it’s for construction related apprentices

I presume Tyco-Sensormatic were given the 999 year lease to entice them to Ireland and the amount if any paid to the IDA in the lease is minimal. Nice money if you can get it, yet another example of the State being generous with the people’s purse.

If you are unfamiliar with the area… then you are going to love this… right across the road is, you guessed it, the FAS training center. Now why oh why aren’t the apprentices being accomodated in there?
There are also extensive grounds to the rear of the CIT, admitedly in the form of training pitches… but why not enter a facility sharing system with UCC and move the clubs to the UCC grounds known as the Farm and develop the Campus on the pitches. Save the 5.8m like.

You might want to check how much it cost to build you new School of Music.
The CSM cutbacks started soon after they opened the new 60 million (?) building, take it up with the architects who blew your budget.

I feel like im sitting in a carrot patch between two glasshouses whos owners are flinging gardening implements at each other.

sigh.

Have you any idea how long they waited for that new building? Believe me I have first hand knowledge of the disgusting, damp and downright dangerous facilities they had to use before that. It’s a fantastic building and I’m extremely happy it was built when it was, before the crash.

Why would I take it up with the artchitects? What an odd thing to say. If you run out of money for food and heat at home do you blame the guys who designed your house? CIT are in charge of the purse strings and their budget comes from the DoE - they are mis-using their budget. That’s my issue.

Surely you describe the suitable environment for the sound of the recorder :slight_smile:

I do not know the site but could they perhaps build a floor or two on top of existing buildings? Cork is so different they build taller than the rest of the country.

On the subject of tall buildings are the offices in that Elysian full yet? Are there no empty offices/commercial buildings where the landlord would take a rent free period followed by a flexible lease rather than a rent free forever. Flexibility on the lease would be need if the number of apprentices (not fired) rise or fall. Is a new building absolutely necessary with so many existing empties?

That €5.8 million land cost is only the start, site and building costs, roads and more roundabouts etc etc

Not sure how much use it will be but here is the map anyway.
I wonder who will get the construction contract… has to be McNamara surely… one of those PPP type things… classrooms with apartments overhead, why not, we’ve tried everything else :slight_smile:

maps.google.com/maps?f=q&source= … 4&t=h&z=16

Agreed. :laughing:

McContrarian,

Don’t knock The Elysian. It’ll be ours soon, courtesy of NAMA, we must be proud of it. :angry:

Then it’ll be knocked.

-Rd