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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?

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

Patrick O'Donovan: It has gone up by €1 million and now the local authorities are interested in it.

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

Patrick O'Donovan: In relation to its portfolio, Mr. McDonagh has said NAMA is involved in planning applications. He has said – he can correct me if I am wrong – that approximately 70% of NAMA’s portfolio has been dealt with.

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

Patrick O'Donovan: What about the remaining 30%?

Public Accounts Committee: Business of Committee (18 Dec 2014)

Patrick O'Donovan: I, too, apologise for not being here. I thought it was on Tuesday and made arrangements for yesterday.

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