£30m spent on Ilexsince its foundation

The sum excludes the cost of the Peace Bridge which was built using £13,023,000 in European peace money.

Mr McCausland advised the total amount of public funding spent on the company since 2003/4 was £30,101,000. Of this £4,773,000 went on salaries; £10,312,000 went on capital costs; £14,818,000 went towards other associated expenditure; £176,000 went on legal costs; and £21,000 went on maintenance.

He was responding to an Assembly Question from East Londonderry MLA Gregory Campbell who asked how much public money had been spent on salaries, maintenance, capital costs, legal costs and other associated expenditure in relation to Ilex.

The Minister detailed the figures advising that the Londonderry regeneration firm was a non-departmental public body funded by both DSD and the Office of the First Minister and Deputy First Minister (OFMDFM).

“The public monies reported include my Department and OFMDFM funding. All figures up to 2009/10 reflect the amounts as published in Ilex’s annual statutory accounts, with 2010/11 figures based upon Ilex’s management accounts,” he stated.

“During the financial years 2008/09- 2010/11, Ilex managed capital works at Fort George and Ebrington to a total value of £10,105K which were classed as ‘Assets Under Construction’ by my Department & OFMDFM,” he added. He said these costs were included in the £10m ‘capital costs’ figure.

“In addition to the above, £13,023K was spent on the Peace (Foot & Cycle) bridge across the River Foyle under the Shared Space programme of PEACE III. Of the total costs, my Department has contributed £2,075K to this project in match funding up to 31 March 2011,” the Minister stated.