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Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: What would Bord na gCon regard as a sustainable debt level?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Does that have to do with Greenpark?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Bord na gCon identified in the business plan that was formulated at the time that it would sell Markets Field, which has been sold and which is providing a fantastic amenity that Limerick FC will shortly use. It is a civic amenity that is very good. Where does Bord na gCon stand in terms of the sale of other assets? It was indicated that €8 million would be identified. Of that...

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is the entire debt being serviced currently by way of interest-only payments?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Has the body made any capital repayments?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Has Bord na gCon had any negotiations with the banks at this point to look at capital repayments?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Which bank?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is that sustainable?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is there a capital structure in place with the other greyhound tracks?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is Limerick still interest only?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: The model that was pursued at the time to go after and develop Greenpark was based on the forecast realisation of €8 million through the sale of assets. The numbers do not change. What happened in the past should not have. Will the racetrack break even in 2014?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: How large will the losses be?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: What were they in 2013?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: It is at a level at which in terms of just being interest only it is washing its face. It is not a burden on the organisation bar the fact that there is a massive debt hanging over in terms of capital repayments. Can the witnesses go back to the €8 million figure and set out the plan for reducing the debt burden in respect of Greenpark?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: It is in the Comptroller and Auditor General's report. The organisation has the old buildings on Henry Street.

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: It was €3.5 million for Henry Street and €1.5 million for Meelick.

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: As a matter of interest, how many acres are there at Meelick?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is it rented out?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is that for agricultural use?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: When one looks at it, that was the turn Bord na gCon took off the road and got lost for a while. The organisation should have gone straight to Greenpark. The head office was deemed to be worth €3.5 million. What is it currently valued at?

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