Ulster Community Investment Trust Ireland (Community Finance Ireland)

Lobbying Organisation Ulster Community Investment Trust Ireland

Date published 17 May, 2022

Relevant Matter Matters involving public funds

Public Policy Area Community

Period 1 Jan, 2022 to 30 Apr, 2022

Specific Details Sports Capital Funding and the mandating of Retrospective Grants to Community Finance Ireland

Intended results Representation to Minister on the cost and risks associated to sports clubs under the current grant disbursement process Policy change to allow grants be disbursed directly to social financier with bridging loans provided to clubs drawing retrospective grants.

Name of person primarily responsible for lobbying on this activity Donal Traynor

Did any Designated Public Official(DPO) or former Designated Public Official(DPO) carry out lobbying activities on your behalf in relation to this return? You must include yourself, and answer Yes, if you are a current DPO or a DPO at any time in the past. (What is a Designated Public Official?) No

Did you manage or direct a grassroots campaign? No

Was this lobbying done on behalf of a client? No

Lobbying activity

The following activities occurred for this specific Subject Matter Area.

Meeting (1)

Currently clubs must often avail of debt finance to pay the upfront costs of capital projects, prior to drawing down sports capital grants. During this period, they pay interest only on the debt, clearing the loan when the grant is drawn down. Current policy dictates the grant may only be paid to the grant awardee first, and the latter must then in turn forward to lender. A precedent has been sent with RDP funding that such grants are mandated directly to the lender, clearing loan directly, and mitigating the risk of longer term debt. Examples of what has gone wrong incl. (without consent of lender); club using grant received to purchase land or using grant received to finance increased project costs instead of clearing debt as agreed. In such instances, club operate outside agreed terms and subsequently find themselves with unsustainable levels of debt. CFI keen to see this addressed for the benefit of the clubs and and risk to lenders required to provide bridge finance.

Designated public officials lobbied

The following DPOs were lobbied during this return period on this specific Subject Matter Area. These DPOs were involved in at least one of the Lobbying Activities listed above, but not necessarily all of them. As returns are specific to a Subject Matter Area the above Lobbying Activities may be associated with multiple returns.

Denis Naughten TD (Dáil Éireann, the Oireachtas)