Oireachtas Joint and Select Committees

Tuesday, 18 October 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

10:00 am

Mr. Willie Soffe:

Let us come to the particular Ulster University papers and the project we had with them. As I explained earlier, the purpose of the project was to put together - on a Northern Ireland basis - a global view of land zoning in the entire area of influence of the Northern Ireland Executive and to show that on an area-by-area basis throughout the province. As the Deputy knows, in this jurisdiction that is information one can get by walking into any planning department. What this was doing was combining it in regard to residential zoning. It is useful in that form, but if somebody wants to advise a person on how he or she should spend his or her money on a particular plot of ground, that individual can go through the local planning authority records and find out the story on that particular piece of land.

This was a project that brought together land that was zoned residential and on which there were loans from NAMA and various other financial institutions that were prepared to take part in it and it was shown in a global way. We got reports on our own piece of it and a global report. Other individual institutions got reports on their piece and the global report. There was an agreement at the start that - the banks were particularly sensitive about this - the individual zonings would not be identified except to them only.

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