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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)

Seán Fleming: Out of the sites and loans in that 70% under NAMA's stewardship in the Dublin area, how many major or well known sites are there? How many have that kind of risk attached? Mr. McDonagh is clear that Poolbeg West will not be problematic so he must have information on others. Are there many risks out there?

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)

Seán Fleming: In one way that is good news because the taxpayer gets all of its money back.

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)

Seán Fleming: Without identifying any sites, out of the 70% of the landbank under NAMA's control in Dublin, on approximately how many of those could that happen? Mr. McDonagh is saying that some cannot-----

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)

Seán Fleming: Is there a risk that half of them might just pay back the money and go?

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)

Seán Fleming: What percentage of the 70% would that be?

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)

Seán Fleming: Would it be half?

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)

Seán Fleming: Out of the 32,000-----

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)

Seán Fleming: On the land NAMA has control over, Mr. McDonagh estimates that the figure will be down from 42,000 potential units to 9,000 by 2020. The change from 42,000 to 9,000 is 33,000 units, how many of those does he think NAMA will build or does he think the private sector will write a cheque and walk away? The reason I ask that is that everyone thinks that NAMA might be the solution given that...

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)

Seán Fleming: In other words, it is far more realistic to say - if that happens, and it could well happen - that of the 42,000 houses that could potentially be built on NAMA land, only half that amount would be under the control of NAMA in a couple of years time.

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)

Seán Fleming: That is only two years away. Mr. McDonagh understands my asking about the bigger picture.

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)

Seán Fleming: NAMA is not good for their credit rating.

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)

Seán Fleming: The point I am making is that people thought NAMA was potentially a panacea for large housing developments in the Dublin area. On the positive side, it is great that the people paid back their par debt and the taxpayer gets all of this money back from those loans. That is great news. On the other side, it means the State will have lost control of the sites in terms of State development but...

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)

Seán Fleming: Mr. McDonagh will have to say that again. He lost people there.

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)

Seán Fleming: We cannot put a time on it today, but it will be in due course.

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)

Seán Fleming: Okay, I am sorry-----

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)

Seán Fleming: Is Mr. Carville in a position to answer the question?

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)

Seán Fleming: Will Mr. Carville be in a position to answer the question? I do not mean today.

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)

Seán Fleming: Mr. Carville said he cannot answer the question today. Is he in a position to answer it in writing?

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)

Seán Fleming: Yes, that is correct.

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)

Seán Fleming: The one thing of relevance to this committee is that Mr. Carville would come back in writing, if he is in a position to do so, on any suggestion in respect to the role of the Committee of Public Accounts.

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