Plans for a new ICT centre at the Nunnery in Douglas comes at no risk to the Manx taxpayer.
The Manx Educational Foundation has already raised around £10 million for the project from the private sector here and internationally.
The Council of Ministers has granted the MEF additional time, until June 30th, to raise the final amount of money needed before the sale of the site goes through.
Economic Development Minister John Shimmin says cynics should be ignored:
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