Oireachtas Joint and Select Committees

Thursday, 12 December 2013

Public Accounts Committee

Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed)

12:30 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I will finish the point. That the DDDA was seeking to double its borrowing limit would clearly have indicated to me that the proposal was significant and unique, in terms of its content and size, for Dublin docklands. Before the authority entered into the deal, it should have sought an independent valuation – if not one, perhaps two. The independent valuations were based on June 2005 and, effectively, the period after the bid. Is that correct? Both were by the same company. Things were clearly rushed but it was significant. I ask Mr. Maloney to deal with my first point first, and then my second point.

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