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
11:10 am
Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source
The total value of the development was €77.6 million on the open market. The housing units were sold at €45 million and the balance owing was €31.5 million. The developer was given a site, which was the value he took. It just so happens he was willing to take a site valued on the open market at €17.5 million but he was willing to take the gamble that the site would accumulate in value. The value agreed with the developer was €31.5 million.
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