Ms Mary Moylan:

The letter dated 12 October raised the value of €220 million. With regard to the discussion that took place on 20 October, at that stage valuations were fluid. There was a variety of valuations available to the authority, ranging from €240 million plus VAT in 2005, with a plot ratio of 2:1. There was a valuation in 2005 and 2006 of €264 million, based on a plot ratio of 2.5:1. Ultimately, the plot ratio agreed on 20 October and 24 October was 2.6:1, on the basis of it being 70% residential and 30% commercial. Therefore, there were variations in the value of the site as the discussions and negotiations continued.