Release date: 13 July 2017
Promoter – Financial Intermediary
PUBLIC ENTITY(IES)Location
Description
To partially finance the first phase of Limerick City and County Council (LCCC) 2030 urban regeneration programme (2017-2022) that aims to regenerate, renovate and preserve buildings in the historic centre of the City of Limerick and create an employment campus of 50,000 sq.m.
Objectives
The project is a first step in implementation of "Limerick 2030 An Economic and Spatial Development Plan for Limerick" which defines long term development objectives for the city and creates a base for short term development plans and municipal budgets. The goal of the project, which is a part of the Limerick 2030 Plan is to: •Grow and diversify the city's economy •Increase attractiveness of the city centre to make the city more compact and avoid urban sprawl. •Provide for balanced and sustainable economic growth in the city centre, by providing mixed use offices and creating linkages between private and public institutions
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 85 million
Total cost (Approximate amount)
EUR 170 million
Environmental aspects
A standard environmental due diligence will be carried out for this project. No major environmental issues are expected. As the project will contain new building construction and refurbishment of existing buildings, it will be carefully screened for compliance with the EU Directive on Energy Performance in Buildings
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation 2014/24/EU as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Status
Signed - 24/11/2017
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).