Mr. Brendan McDonagh:

It is difficult. We engaged with local authorities, we worked with them and there were certain sites that were in the NAMA debtors' portfolio. There was an expectation that there would be a certain amount of LIHAF funding coming for it, but now we hear that actually there will not be LIHAF funding available and that LIHAF funding may now morph into the urban regeneration and development fund, URDF. There are different parameters around URDF than had been around LIHAF so there is a bit of confusion out there about what is going on. There are certain key sites we would see in Dublin and its border counties that have serious infrastructure deficits, but not insurmountable infrastructure deficits, that will cost money to resolve. If it was available LIHAF would certainly be helpful to provide the infrastructure. These issues are not just to do with NAMA and they affect other landowners who are not in NAMA who we know also. It is not about special pleadings, it is just the reality of what is going on.