Cllr Kieran McCarthy, Remarks on Investment by

City Council on E.100,000 into Fastnet Line

At the outset Lord Mayor I’m a big fan of the Fastnet Line and the company who re-engaged and re-energised the route between Cork and Swansea.  I appreciate the need for investors to supplement their business finances. And I welcome the fact that local enterprise is crucial to the future of this region.

This is the second year, this Council has been approached with requests for funding from the Fastnet Line. At the Council meeting in January 2010, we agreed to give them E.200,000; this time around it’s 100,000; so in the space of 16 months, the Fastnet line  will receive, if agreed this evening, the bones of E.300,000- nearly a third of a million euros.

What have the Council got for that investment? Well… that’s the problem I have – I don’t know – I have got no accounts or even an annual report before me or even the bones of a business plan before me–last year this Council invested over E200,000 in another company, a City institution and then it had to take the decision to close down a week later for three months during the summer because of its financial situation that the majority of the Council were unaware of.

So with no accounts, no annual report, I’m asked to give my approval to Fastnet Line project who I think, from media coverage, is doing well.

If you are a brass band in this city and you apply for an arts grant, you have to fill out acres of forms to get E.1000; it seems easier to get E.100,000, there seems to be no forms and no reports…. That’s my first issue and query – where are the reports or business plans by this company?

My second query is where does this investment fit into the new tourism sub directorate and the Council’s role in promoting the city. I wandered down to the ferry terminal this morning and there was not an ounce of paper in the ferry terminal on Cork City. Indeed, there is not even a welcome to Cork sign or anything to engage the visitor to think about their stay. Indeed for all the money Cork spends on its 100 days of festivals, one would like to see a sign saying something like “welcome to Cork: expect culture”.

Then there is the signage on the main roads. I was intriqued this morning to see the carboard signpost indicating the direction to West Cork stuck into the Shannon Park roundabout.

Lord Mayor once the tourist get as far as the Carrigaline Roundabout, there is a decision to be made if it hasn’t been made already by the tourist. If they head towards Carrigaline, the city loses the visitor to West Cork, if we can get them to turn right and bring them into the city, then we’re promoting the city’s tourism outlook

So I wonder about how this proposed investment of E.100,000 is going to be maximised. Now I’m not insinuating that the E.100,000 will not be invested in the MV Julia but certainly Cork City needs to get more of a look in where the money is going.

Is there going to be literature on Cork City on the ship, at both Cork and Swansea Terminals?

The Council already funds a festival forum? Where do they fit in? Are there even banners on the ship? They certainly are not in the terminal.

Where does the Cork-Swansea twinning link fit in?

These are all issues I would like to call on the manager to comment on. Indeed, I would like a vote on the granting of this matter be deferred to the next Council meeting until at least this Council is given by Fastnet Line at least an annual report in some shape or form to read; so that this Council can give an informed agreement to the granting of E.100,000 for 2011.