The company operating the Aqua Dome in Tralee is undergoing a restructuring aimed at recognising it as a community enterprise going forward.
A proposal approved by Kerry county councillors at this month’s council meeting involved the further leasing of council lands for the Aqua Dome.
It also involved the council’s role in the company going forward.
The Aqua Dome has been open for 30 years as a key tourist attraction and community facility in Tralee, and recorded its best financial performance just last year.
Tralee Waterworld PLC was incorporated in 1992 to operate the Aqua Dome, but according to the company, the current corporate structure is no longer fit for purpose.
The company is therefore undertaking a restructuring and plans to transfer existing assets, business, undertaking and employees to a new company, Tralee Aquadome Company Limited by Guarantee (CLG).
The proposal before councillors this week said this was for two main reasons; first, to recognise the Aquadome as a Community Enterprise going forward.
This will also allow the company to avail of various grant supports available to voluntary organisations, charities, not-for-profit entities, and sports clubs.
Councillors approved a 999-year lease of 0.137-hectares of council land on the Aqua Golf side of the facility, and a further lease of the rest of the lands on which the Aqua Dome operates.
Councillors also approved the council relinquishing its shareholding in Tralee Waterworld PLC.
The meeting was told shareholder approval will be needed for the transfer of the company’s business to the new CLG.
Council CEO Martin O’Donoghue told the meeting that the understanding is once the company’s own processes are complete, the council will become a member of the company and take up a directorship.
