Results 2,361-2,380 of 15,555 for speaker:Eoghan Murphy
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: Does what happened between 3 and 24 October not confirm Mr. Maloney's initial fears that the authority was starting too late because it was all so rushed? It had a one-hour teleconference call on 24 October and only then did Mr. Maloney give the correct information to the Department for sanction that would be approved three or four hours later for this venture.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: We touched on the valuations. I refer to the board minutes of 20 October. A paper from that meeting entitled, The Site at Poolbeg: Proposal for Acquisition, was adopted by Mr. Mulcahy on 19 October for that board meeting. The paper mentions two valuations. One was €240 million based on the work done by the CBRE in 2005 and the other was €268 million, a recent internal...
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: I refer to the letter of 12 October. From where had the figure of €220 million come?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: Three other figures had been mentioned by mid-October paper - by 12 October - and there are another two figures in the paper of 20 October.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: The 2005 CBRE figure was €240 million, yet the letter stated the figure was €220 million. I accept that Mr. Maloney did not look at the letter before it was issued and the official had been working off the internal valuations the authority had at the time, yet on 20 October he had an internal valuation for €240 million from the CBRE, but it was not included in the letter.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: What was the person's reference points for the letter dated 12 October?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: Not the €240 million valuation.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: The figure of €268 million is referred to as a recent internal valuation. I must conclude it was furnished after 12 October.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: The valuation in the letter to the Department dated 12 October was €220 million. There was a figure of €240 million based on a 2005 CBRE valuation and that is sourced in the document of 20 October. There is a valuation of €250 million - a typo - in the minutes of the meeting of 24 October. The next valuation is €268 million, an internal figure mentioned in the...
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: The authority was running the numbers again and again and it was looking at the potential of mixed use------
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: At any point did Mr. Maloney stop and ask what we had requested from the Department?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: It is not just the valuation of the site that changed in that period of time; it was also the percentage of the joint venture in which the DDDA would be involved.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: When did that take place?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: Mr. Maloney proposed it to McNamara.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: I want to come back to the cap.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: I will conclude, but I would like to come back in.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: I would like to continue on the minutes of the meeting of 24 October. The sanction that came from the Department of the Environment, Community and Local Government which had come through the Department of Finance re ministerial approval of property acquisitions in the Dublin docklands stated there was approval for borrowing by the authority up to the statutory limit of €127 million....
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: However, on 23 October, Mr. Maloney was recommending a joint venture.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: Yes. The recommendation involved taking a 26% stake with a bid between €275 million and €375 million. Was there any voice of dissent on the board?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Eoghan Murphy: At the meeting on 24 October, was there any hesitation or dissent at board level?