Catherine Murphy (Kildare North, Social Democrats) | Oireachtas source

One point is that the higher valuation would be residential. An educational zoning would result in a lower valuation. Yet the city council assumed a higher valuation. Had it been earmarked to the city council that this was for an educational campus, the council would have zoned it for educational use. In that scenario, it would not have premium residential zoning but educational zoning, which would be lower. Whether that would have been fair to the owners of the site is another matter altogether. In any event, there is a happy coincidence that the valuation happens to be the higher amount and it got another entity off the hook in the context of the balance sheet.