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 - Tue, May 6, 2008

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Total Stories: 30          Published: Tue, Apr 29, 2008



Quinn's prepare economic appraisal for £15m Derry City FC project


Plans by a Derry-based company which is closely aligned to Derry City FC for a £15m brand new stadium complex at the club's Brandywell site received a boost this week, with cross-Party support from within Derry City Council and from those MLAs from the city's catchment areas when the project was unveiled at Stormont.

The project, professionally known as The Green Book Economic Appraisal, was undertaken by Peter Quinn Consultancy Services Ltd who are based in Enniskillen.

Yesterday, the leader of the team which spent six months preparing the appraisal, Barry McGurgan, the firm's managing director (Mr Quinn is now director) told the 'Herald' that the 'green book' is vital in projects, such as the one at the Brandywell.

"We were naturally delighted to be commissioned to do it by Brandywell Properties Trust Ltd, a group set up to manage the affairs of this project. They are made up mostly of Derry City football people.

"A 'green book' is basically a document that is requested by government for projects on which government funding is sought. It's an investment appraisal and, in this case, you're talking about an estimated cost of £15m, so it was a big piece of work for us. There as a lot of time put into it over a six-month period".

While the club itself will have to raise £5m, another £5m is being sought from the NI Executive and the remaining £5m from the Irish government.

Although based in Derry, the club is registered with the FAI and plays in the League of Ireland.

Mr McGurgan explained that copies of the 'green book' report was would be utilised as a submission to both governments for funding, and another copy for submission to Derry City Council for acquisition of the site.

"As far as I know", he said, "the applicants were successful in going through Derry City Council, so I think Brandywell Properties Trust Ltd either have taken or are about to take possession of the land at the Brandywell which is owned by Derry City Council".


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