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Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Was the €38,000 for 7 acres?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: What did that leave the total cost at?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Plus €45,000.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: So the total price was €338,000.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: So 7 acres were swopped. Using the price paid for 12 acres then it cost nearly €30,000 an acre, between drainage and purchase or acquisition. Is that right? That is a rough figure.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Yes, €11.6 million roughly.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: The cost works out at almost €30,000 an acre but the 7 acres were swapped in a deal two years later for €10,000 an acre. That is a financial calamity if anyone buys property or land and sells it within two years but achieved a price or a value of one third of the original cost. Is Ms Eade aware that the price for agricultural land, not zoned land, dramatically increased...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: I have asked the question. A few issues stand out. First, there was an old or outdated valuation; second, there was no second valuation; third, the land cost almost €30,000 an acre; fourth, 7 acres of land were swopped for only €10,000, which is almost one third of the original price of an acre; fifth, all this happened at the same time as land prices increased; and, sixth,...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Can Ms Eade give me her initial response? I accept that land was needed to widen the track.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: I understand the strategic need. Given the facts that we have established here this morning, does Ms Eade agree this is not a happy situation due to the way public moneys were spent by a public body or semi-State company like yourselves? Does she, as CEO, think that there has been a good outcome for the HRI?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Which one?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Which one of the facts that I have outlined is incorrect?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: I have asked Ms Eade to either clarify the points raised, disagree with them or challenge them and I have outlined six or seven facts. Taking those facts together, is she happy with the position that we have arrived at regarding this land deal?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: I thank Ms Eade. Some of the CCTV issues has been addressed by members. Can Mr. O'Loughlin give the completion date for when the CCTV system will be operational?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: How many tracks require redevelopment works?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: So that leaves 22 tracks.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: I understand. How many tracks have CCTV?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Is Mr. O'Loughlin saying that CCTV is not operational on any track at the moment?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Have the cameras been tested to check if they are operational?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: So two sites. How many cameras are at each yard or track?

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