Results 5,101-5,120 of 26,021 for speaker:Kieran O'Donnell

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Was Mr. Maloney in the position when the evaluation was received in June 2005?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: I draw the committee's attention to a key point. Had this project not gone ahead, additional funding of €52 million would have been available to the Dublin docklands for projects and amenities for people in the area. Any money the DDDA earns in its final incarnation goes back to the Exchequer. The whole thing appears to have been enormously rushed. When things are rushed, normally...

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: There was nothing normal about the size of this project. It was valued at €400 million. It was clearly a high-risk project.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: I appreciate that Mr. Moloney has come before us, but obviously he will appreciate that the robustness of argument will always stand up, so we have to put questions. I always come back to the return. Did DDDA get any projections on the level of profit it would make from the project if it was going ahead?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: What was that level?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Did the DDDA do any due diligence on that? DDDA was a minority shareholder in this proposal.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Who carried that out for DDDA?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: That is on the value of the property, but who actually sat down and crunched the figures?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: The eventual cost of the project was €412 million, and at 15% the DDDA was looking at a profit of €62 million, but it ended up with a loss-----

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: What was the projected profit?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: How much would the DDDA-----

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Twenty-six percent of €200 million. So it was projecting €52 million, which, ironically, was the figure it lost. There was a turnaround of €104 million.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: No. What I am more interested in is the fact that €52 million was lost on the project. When DDDA was examining the project, what net profit did it project would come in?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: A profit of €50 million.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Okay. Will ten minutes be sufficient for Deputy Eoghan Murphy?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: We can ask the DDDA directly for that.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: What was the zoning of the land when it was purchased?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Was there a question over its zoning?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Was any preplanning done before a bid was made on the site?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: But that only involves picking up the telephone to call the planners.