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Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: As a matter of interest, has NAMA offered other similar facilities to the authorities?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Have they accepted them?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: I am really interested in emergency accommodation. Am I right is saying NAMA has previously offered hotels to the Dublin local authorities? Have they been refused?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Was it offered previously?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Is this the second time it has been offered?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Why was it refused the first time?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Now it is suitable.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: I am not having a go at Mr. McDonagh but trying to find out why a local authority facing a housing crisis would refuse accommodation.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Of the 5,500, roughly how many were located in the Dublin area?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: They refused.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Refused.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Therefore, 1,200 were refused.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Some 1,200 units offered by NAMA were refused by the Dublin local authorities, together with a hotel, which is again under consideration.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Has a price been agreed between NAMA and-----

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: How does that price compare with the original offer? Is it the same price?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Therefore, it is not years ago that it was offered.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: As a matter of interest, when did NAMA make the original approach to the local authorities to determine whether they were interested in buying or acquiring the asset?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: In that period it has appreciated massively in value, as has the rest of the portfolio.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: For what could it have been bought two and a half years ago?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Patrick O'Donovan: Could I have a ballpark figure?

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