IT Tralee’s planned purchase of a technology park was stopped on account of its financial situation.
The information was revealed in documentation sent between the Institute of Technology Tralee and the Higher Education Authority in relation to finances in the third level institute.
The Higher Education Authority, which leads the strategic development of the higher education and research system, raised the issue of recurring deficits in letters to the institute in 2015 and 2017.
Prior to this, IT Tralee had expressed interest in acquiring the Kerry Technology Park, which is adjacent to the North Campus in Dromtacker.
The park offers three office buildings as well as greenfield sites to suit both manufacturing and international services clients, in a landscaped and serviced environment.
In a letter to then-IT President Oliver Murphy in July 2017, the HEA said arising from the greatly deteriorated financial situation, IT Tralee should not proceed with the purchase of the technology park at that time.
A year earlier, it was reported Kerry County Council and IT Tralee were proposing to purchase the site.
The IDA says the park is still owned by the Shannon Group.