Oireachtas Joint and Select Committees
Thursday, 21 February 2019
Public Accounts Committee
2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 34 - Housing, Planning and Local Government
9:00 am
Mr. John Hannigan:
I understand but the reality is that we are paying off the other debt over the period of the life. It gets paid on a monthly basis or a quarterly basis, depending on the agreement. When we get to the end of that debt, we have the value of the asset, which is very significant compared to the 30% plus interest that was lent. We have the opportunity to borrow again. It is a bit like the car loan. We have the opportunity to borrow again to make that payment and deliver more.
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