Alan Kelly (Tipperary, Labour) | Oireachtas source

I respect the legal obligations and the situation NAMA is left in. I know NAMA's mandate off by heart. Having said that, it is robbing Peter to pay Paul from the public's perspective because of the economies that would be created by DCC having this site for affordable and cost-rental housing. It will cost the State more by going down this route. I know state aid rules well. I went through them a lot in my two years as an MEP and I even helped amend them years ago in respect of the percentages allowed in different parts of the country, but there has to be some format whereby the mandate of NAMA can be fulfilled and the commerciality of it can be respected in order that the economies of Dublin City Council taking this site and developing it either in conjunction with someone or by itself can be realised. This is a test case given where we are in the housing crisis. The council unanimously decided last night to go down this route and we will have to find a way to deal with this within the rules.