Results 2,001-2,020 of 3,444 for speaker:Shane Cassells
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: I thank the representatives for their time, reports and engagement. The information gleaned from the exchange so far has been beneficial. I appreciate the frank offer of information. I wish to begin with Mr. McDonagh's remarks in respect of the social housing engagement NAMA had with local authorities and the offer of 7,000 residential units to them by the agency, of which only 2,717...
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: Of the 7,000 units made available, 2,717 were taken up. That was a poor rate of take-up by the local authorities. Many elected members of local authorities are very critical of NAMA but this was a situation where the local authorities had the opportunity to take up units it was making available. Where were the majority of the units? Were they concentrated in particular counties? Were...
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: That information would provide significant insight.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: I appreciate that. Mr. McDonagh is providing us with the information.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: I refer to the parameters referenced by Mr. McDonagh. The situation is ridiculous. Local authorities have thousands of people on housing waiting lists. As Deputy Connolly said, some have been on the waiting list in Galway for 16 years, while others in my county have been on the list there for ten or 12 years. In spite of that, local authorities are talking about parameters. I delved into...
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: To the local authorities.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: I discussed the parameters and so forth with the CEOs of many local authorities. At times, the Housing Agency focuses more on parameters than county councils or, certainly, elected members. I presume the Housing Agency reported back to NAMA in regard to the take-up.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: I want to delve into that issue. I am trying to understand the reasoning behind these decisions. Mr. McDonagh stated that the properties were subsequently sold, so they were commercially viable properties. Did the local authorities indicate that the properties were not suitable for them?
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: I will pose these questions to them but I am trying to get Mr. McDonagh's take on it.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: I acknowledge that difficulty. If I put the list of what NAMA was offering up on my social media account tonight, those properties would be snapped up quickly. The reasoning behind the decisions is key. In some instances, did the Housing Agency indicate it did not have the funds to purchase the units? It was earlier stated that it was short of funds. Was there a funding issue?
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: It makes the scenario even worse that no capital was needed upfront to avail of the offer, yet only 2,7000 out of 7,000 units were taken up by our local authorities during a housing crisis. It makes the picture being painted this afternoon even worse. Representatives from the Department of Housing, Planning and Local Government will be before the committee in a number of weeks specifically...
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: That is fine.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: I appreciate Mr. McDonagh can only answer from his perspective. Given the funding was not an issue because NAMA would have taken care of the capital upfront, were the so-called parameters which meant they did not want an over-concentration of so many social housing units in a particular area their guiding rule for the refusal?
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: It is unreal. It is unbelievable to think we are in here week in, week out and that there will be a vote of no-confidence in the Minister next Tuesday night, yet we have a situation where only 2,700 of 7,000 units which were going to be paid for upfront and leased back were not taken. It goes back to the discussion on the Housing Agency. I have made this point here before about the...
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: These units were subsequently taken up by the private market.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: It was an issue before the crash. I was a councillor for 17 years.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: To finish on that, I want to be perfectly clear that we are talking about completed units. This was not the case of land banks with a potential yield for-----
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: It was not a case that they had to-----
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: NAMA was offering solutions.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018) Shane Cassells: NAMA was offering more and they said, "No." Mr. McDonagh went on to say they were choked of funds. Will Mr. McDonagh explain that? I am trying to square that circle. Was it in the context of the development of land banks? What was it in respect of?