Oireachtas Joint and Select Committees

Thursday, 30 January 2014

Public Accounts Committee

2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 6 - Land Swap Arrangement in the Provision of Affordable Houses
Vote 13 - Office of Public Works

11:00 am

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

What you are saying, essentially, is this. Thirty-four million euro has been paid to date - €32.6 million by the judge, and there was interest that he got in addition, plus the developer's portion of legal fees that have been submitted so far, and a portion of fees from the Chief State Solicitor's office, which brings the sum up to €34 million paid out to date. However, €17 million was the original valuation of the site at its best. You are explaining to me now that the extra €17 million was really compensation for loss of income to Mr. Durkan because he could not get vacant possession to develop his property and earn rent from it during the earlier years. Is that it?

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