‘Scale of loss’ to Waterford businesses affected by Tycor fire still being assessed
Cllr Seamus Ryan requested an update on the Tycor Business Centre at a recent meeting of Waterford City and County Council
The “scale of loss” to businesses affected by the fire at the Tycor Business Centre in Waterford city is still being assessed, a council meeting has heard.
Labour Party councillor Seamus Ryan requested an update on the funding process at the October plenary meeting of Waterford City and County Council.
Cllr Ryan said: “Again, I want to follow up on the issue I raised last month which was the aftermath of the Jute Factory fire.
“Can I ask where that is at at the moment and what progress are we making with those business owners there?”
In response, Director of Services Michael Quinn outlined where the process of providing Government funding to the businesses is currently at.
Mr Quinn said: “In relation to the businesses, we’re currently doing an insurance assessment. That’s the stage of that so the preliminary payment has been made.
“Then we have the assessment to justify the scale of loss or verify the scale of loss.
“Once that process is finished then it moves on to paying based on the recommendation from the loss adjustor, so that’s actively ongoing at the moment.”
Waterford City and County Council has been tasked with distributing Government funding as part of the Tycor Business Park Fire Scheme.
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 allows for the distribution of between €5,001 and €30,000 to affected businesses.
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.