Results 1,941-1,960 of 20,054 for speaker:Brian Stanley

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: That would indicate that the chief corporate officer was in Dublin before and after-----

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Was there any communication with the chief corporate officer during the meeting of which Professor Kilcommins is aware?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: At the time, we felt it was important. I remember the reason that was given at the meeting and I just wanted to quote that.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: I will finish my line of questioning and let members in afterwards. Professor Kilcommins signed the contract for Rhebogue.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Many people, including me, find this unusual, given the history of the Dunnes Stores site. That site was bought for some €5 million more than the previous valuation and here we are again talking about similar sums of money. There could be a wide variation in terms of valuation when it comes to a commercial property but it is not the same with houses. I can tell Professor Kilcommins...

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: I ask Mr. Kelly, as corporate secretary, whether he would normally attend the meetings of that executive committee.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: The price for Rhebogue far exceeded what it would make on the open market as residential property, as homes. Was the issue of the price and valuation and also the fact it was being designated as a commercial purchase raised at that committee?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Those two issues.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: No, but the university was buying homes in a housing estate-----

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: -----on what is called the "open market". It is the same as me getting a mortgage and buying one of them. The university was buying 20 houses. It was not buying them commercially. It would subsequently become commercial at the point at which they came into the university. The university may have a commercial dimension then, in that it becomes student accommodation by changing the sitting...

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Yes, please.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: I am taking on board what Professor Kilcommins is saying but what I am trying to reconcile in my head is that the university was not buying individual units or buildings with four self-contained units in them. It was buying three-bedroom homes. That is the point I am trying to make. There are 30 pages in the policy for the acquisition of new property and buildings, land and infrastructure....

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: There were procedures there beforehand.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Yes, and I have been trying to make sense of the issue of this rental agreement from the briefing notes we were given. It seems as if the issue of rental and stage payments was basically a load of cock and bull just to try to cloud the issue. The purchase price is the purchase price, is that right?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Of course, there was not. External advice was sought and given on this from a company. Is that external company still retained to give advice to UL? Is the company still doing work for UL?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: On the valuation.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Tell me about the advice on planning in a minute.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: What was the first one?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Market value is the only issue. It is what you can buy for.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: If somebody is going to buy a bullock that is a year old he or she does not buy it at the value of what it will be when it is three years old and fully fattened. It is a ridiculous situation.