Ms Eileen Quinlivan:

I thank the Chairman and the committee for inviting us to this meeting. My name is Eileen Quinlivan and I am the acting CEO of the Dublin Docklands Development Authority. I am joined today by my colleague, Mr. John Crawley, the authority's financial advisor. We are here today to discuss the 2012 annual report and financial statements and to bring the committee up to date on developments in the authority since the Comptroller and Auditor General issued his special report No. 77 on the authority.

Last week we submitted a briefing document to the committee which we will be referring to this morning. On 31 May 2012 the Minister for the Environment, Community and Local Government announced the Government's intention to dissolve the authority. A new council and executive board were appointed to the authority in June 2012 to oversee the transition. The Minister envisaged that the authority would remain in place for a transitional period during which it is required to wind up existing operations, prepare the transition to new arrangements and make recommendations to him on appropriate structures for the future.

These structures should ensure the docklands brand and international marketability as an attractive and prime location for investment and high-value development is maintained and enhanced, an appropriate fast-track planning regime remains in place, the local community and the business sector continue to be involved in the regeneration project and job creation is facilitated. In addition, the board has also considered and made recommendations to the Government on how best to achieve the Minister's key objectives for the future regeneration of the docklands in a way that the board considers will build on the positive elements of the authority's legacy in terms of social, physical and economic regeneration. A series of key objectives and associated risks were identified to implement the Government decision, as reported on in the 2012 annual financial statements.

In July 2013, the Cabinet approved Dublin City Council as the successor to the authority and instructed the Department of the Environment, Community and Local Government to put the final transition arrangements, including enabling legislation, in place. A dedicated unit within the city council is being established to carry forward the docklands regeneration project upon the coming into effect of the strategic development zone planning scheme and the dissolution of the authority. The city council is providing services to the authority to resource day-to-day operational activities. The transition of responsibilities to the city council has commenced through this process. The key wind-up issues being addressed by the authority include: the completion of the remaining asset sales and the discharge the authority's remaining liabilities; the management and resolution, where possible, of all litigation against the authority; the implementation of the transition of the authority’s functions, obligations and responsibilities to transfer infrastructure to Dublin City Council; and the transfer and disposal of any authority interests in joint ventures and subsidiaries. This work will be substantially completed in the first half of 2014 with residual issues being transferred to appropriate State bodies.

The transition objectives set by the board of the authority fall broadly into three categories. The first objective - the stabilisation of the authority - is substantially complete. Key deliverables in this regard include the repayment in full of the authority's bank borrowings, which at their highest rose to €35 million; the successful conclusion in the authority's favour of the high-profile €100 million claim by Bernard McNamara and Donatex against the authority; and the resolution of €20 million in other claims against the authority without any cost. In one case, the authority received a €500,000 benefit. The authority continues to dispose of its investment assets at good market prices in the current environment in order to settle its remaining liabilities. The remaining litigation continues to be managed out.

The second objective relates to planning for the future. Two new structures have been designed and are in the process of being implemented. An strategic development zone planning scheme has been prepared by the city council for the area covered by the authority's North Lotts and Grand Canal Dock planning schemes. This is currently on appeal to An Bord Pleanála. The authority has also recommended to the Department of the Environment, Community and Local Government that a docklands forum be established to ensure the continued involvement of the local community and businesses in the regeneration of the area. The third objective relates to the transfer of responsibilities from the authority to the city council, which has commenced. In this regard, the city council is providing ongoing resources to facilitate the continuation of the section 25 fast-track planning function and is mobilising resources to take responsibility for the authority's infrastructure, for example roads and lighting.

The detailed briefing paper submitted by the authority to the committee last week is intended to provide Deputies with a full update on four key areas. It contains an update on the findings and conclusions reached in the Comptroller and Auditor General's special report. It sets out the progress of the authority's finances from 2010 through to the audited financial statements for 2012. As the authority is being wound up, we have prepared a summary of the moneys received by the authority since its inception and how those funds were spent. The briefing paper also outlines a proposed delivery mechanism for the continuation of docklands regeneration into the future.

In summary, the authority's finances have been stabilised. In conjunction with the city council, the authority has put in train a process to develop alternative fast-track procedures. We have put forward a framework for the continued involvement of local communities in the future regeneration of the docklands area. In addition, the transition into the city council, as directed by the Minister, is at an advanced stage. My colleague and I will be happy to deal with the committee's queries to the best of our knowledge and ability.