Work is to commence within the next fortnight and will be completed in June.
Deputy Deasy, who is vice-chairman of the Dáil Public Accounts Committee, had called on the State to step in to facilitate the completion of the complex, work on which ground to a halt over three years ago.
The PAC recently received documents indicating that costs will be significantly more than anticipated. In a report, Eugene McKenna, former CEO of Diverse Campus Services — the company tasked with delivering the project — blamed leadership and governance issues for work stopping in 2012.
While he wouldn’t disagree with that analysis, John Deasy says it’s important to “move on and ensure that the uncertainty surrounding the project was ended.
“Myself and the chairman John McGuinness have made it clear at the committee that leaving the building like it is simply isn’t an option. When the Higher Education Authority appeared before us last January it estimated the shortfall at €5m. The Department of Education had already committed €2.9m to the project but a realistic means of financing the remainder needed to be found.”
The HEA has already said WIT “overstretched” in advancing its own independent building programme before running into funding problems. The Phase 3 ‘Carriganore Arena’ element was meant to cost €9.7m. But financing issues arose within the college after €6.5m was spent and the multi-purpose building is still largely idle and incomplete.
When the Department was at the committee in September it indicated that a loan was being looked at. This financing has now been agreed on terms that are manageable. Deputy Deasy says the priority is to finish what’s been started, regardless of the various legacy issues.
“The PAC has been dealing with the Department for the past year on this and the WIT debt situation. I think there was a realisation from officials that the State needed to step in and give the Institute a helping hand.”
The Fine Gael TD said new WIT president Willie Donnelly “has steadied the ship and we’re close to being on the right track, finally, to becoming a university, which is the most important thing.”