Over €400,000 distributed to businesses affected by Tycor fire in Waterford city
Waterford City and County Council has been tasked with distributing the Government funding
Over €400,000 has been distributed to businesses affected by the fire at the Tycor Business Centre in Waterford city.
Waterford City and County Council has been tasked with distributing Government funding as part of the Tycor Business Park Fire Scheme.
The local authority has confirmed the money that has been distributed on behalf of the Department of Enterprise, Tourism and Employment.
Under Phase 1 of the scheme, up to €5,000 was made available to businesses as a means of providing immediate, smaller-scale assistance for damages and losses.
In total, €170,944 was disbursed to 47 businesses, organisations and groups under that phase of the scheme.
Phase 2 of the scheme allowed for the distribution of between €5,001 and €30,000 to affected businesses.
However, the distribution of these funds was subject to an assessment by an independent, council-appointed assessor.
Under this phase of the scheme, €231,323 has been distributed to 12 businesses, organisations and groups thus far.
That brings the total amount of money distributed to affected businesses to €402,267.
In total, 40 businesses, organisations and groups applied for funding under the Tycor Business Park Fire Scheme.
Of these, 36 were approved, 2 two were unsuccessful and two have been deferred, pending further information.
The fire at the Tycor Business Centre back in May came as a blow to a wide range of local businesses and community groups.
Although no one was injured, extensive damage was done to the building’s roof and inside.