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Jeanie Johnston
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Tralee Councillors Pledge Extra £400,000 for Ship Project
County Manager, Martin Nolan, told the Meeting that the ship had now been under construction for almost three years and has been berthed in Fenit since May of this year. The project had received widespread support both locally and abroad and had received financial assistance from a wide variety of sources. However, the particular complexities had been underestimated and, consequently, some delays and overruns had occurred.
Not alone was a comprehensive Business Plan underway but a Rescue Plan had been undertaken as was required by the Department of the Marine (before releasing the £1.3m balance of the grant allocated earlier in the year) and this should be ready on 13th November. The Project Board had already agreed to and are currently implementing a restructuring programme. Tralee UDC and Kerry Co. Council are working together on the Project and had commissioned a professional review to be carried out on the complexity of it, including time and costs involved in completing the ship. This review had just been concluded and the details were to hand. It contained, inter alia, a detailed estimate of time and costs needed for completion and a schedule of sea-trials. This, the Manager told the Meeting, provides a solid footing for the Company to plan ahead.
It is estimated that £933,000 is required from 1st October 2000 to complete the ship-building project. The total cost will be approx. £10 million. The ship should be ready to undertake sea-trials in February 2001. The Manager stated that additional support will be forthcoming provided the Company completes its restructuring plan and produces a full Rescue Plan. The 4.2 acre site in Blennerville, which the Company owns, is quite a valuable property and the Company will need to use the asset value of the site as part-funding for completion of the project.
Mr. Nolan stated that the Company had an immediate cash-flow problem. "They want to keep the work going without interruption and they have applied to Tralee Urban District Council for a temporary loan to enable the work to continue." The Manager recommended to the Meeting that temporary loan facilities of not more than £400,000 be made available to the Company to enable them to continue the work. He further recommended that the loan be interest-free and short-term in duration and that it be provided from the Urban Council's own cash resources.
Councillor Norma Foley said that the project was at a critical moment. "Let it not be forgotten", she said, "that the motivation and creativity for this project was born here in Tralee UDC. It is appropriate for the Council to lend the extra support that is needed at this time. All the steps that have been requested are being taken. We must lend confidence."
Councillor Tommy Foley added his voice to the support already voiced. "We set sail from the start and intended to go the full way to the US and back. I know that this will be a success and we will achieve what we set out to do". He was confident that Tralee would benefit from the voyage. He wondered whether or not the proceeds from the sale of the Blennerville site would benefit the Company or the Council and was told that, as the Company had bought the site and were owners of it, the asset value would be used by them as part-funding for the project. Councillor Foley said that it was his personal ambition that the Jeanie Johnston would return to Blennerville after her voyage and would be disappointed if this could not happen. He then congratulated both John Griffin and Dr. Henry Lyons for their input into the Project, describing them as "men of vision".
Councillor John Blennerhassett welcomed the Manager's Report. "Everything that we asked for has been covered. We already agreed here to support the project. We've put a lot of money into it and, although I am anxious about selling the Yard in Blennerville, I feel that we have to keep going".
Councillor Bríd McElligott-Rusk supported the project but asked how short-term would the duration of the loan be? She was informed that it was likely to be for a period of less than three months.
Councillor Maeve Spring stated that, as the repayment of the loan was more or less guaranteed, it was imperative that the loan facilities be provided.
Councillor Cathal Foley said "I feel that it will be money well-spent. When you think of it, £10 million is an awful lot of money - you could build a hospital with it! I think the project deserves our support and I agree with the Manager's recommendation".
Councillor Johnny Wall, who chaired the Meeting in the absence of Cathaoirleach Miriam McGillycuddy, joined with his Council colleagues in supporting the proposal and said "Let the word go out that this Council has the ultimate confidence in the Project and especially in the leaders, John Griffin and Dr. Henry Lyons". He concluded by saying that the motion to provide the recommended loan facilities was unanimously carried.
The County Manager then paid tribute to everyone working on the Project, saying that they were all extremely dedicated. He ended by saying "I expect that the fund-raising in the States will be very successful. John Griffin's exceptional talents in this regard will be used to the full".
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2nd Nov: Jeanie Johnston Has Council's Full Support