Results 1,561-1,580 of 7,777 for speaker:Joe Costello

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: A haircut was applied to the loan.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: I agree with everything that has been said. Was it a fact that the deal was done in 2006 and that the property was not available for the swap until 2012, six years later?

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: With multiple Departments involved and no proper lead Department. That this could have happened and that someone could have made a decision knowing full well that the property would not be available for swapping for a considerable period, and knowing also that we were in a bubble in the development market and that prices were going out of control in 2006, mean a lot of questions have to be...

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: Two hundred and fifteen houses costing-----

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: The developer would have delivered a value of €77 million.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: Between the jigs and the reels, the developer got compensation of €31 million when he went to court and all the rest of it.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: Three million euro. What did the developer get out of it?

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: He got compensation of €31 million.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: Did he get the site?

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: So he never got to swap?

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: It is worth €3 million only at present.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: Overall, it was an advantage in respect of the 215 houses. It was a sizeable amount and the State did not lose per se on the deal. The developer, one might have said, would have lost more had he got the property at that time. It was very valuable at that time and he could have used it.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: Did the State lose at all? It would have benefited overall.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: If there were a write-down of the €77 million value of the 215 houses to €46 million, it would still be well in excess of the €32 million in compensation that the developer got.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: Determination of eligibility is dealt with on page 5 of the report. The Accounting Officer for the Department of Health outlined "the HSE uses its discretion to grant a medical card to a person who is unable without undue hardship to arrange a GP service..." We should be careful when we are dealing with one report that we do not to an extent contradict recommendations made in another....

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: I can make suggestions.

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: What is the custom?

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: As the clerk has indicated, the system operates efficiently and effectively for 70% of cases but in the remaining 30% half of the summonses are not served properly and there is no endorsement on two thirds of the offenders who come before the courts. That is incredibly ineffective. I hope that the consolidation and centralisation of the system to which the clerk referred will deal with the...

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: Has any work been done on Thornton Hall, the prison proposal in terms of expenditure in the region of €50 million and where it is at now?

Public Accounts Committee: Business of Committee (25 Sep 2014)

Joe Costello: There appears to be very strong parallels between that and the National Paediatric Hospital where a huge amount of assets were invested in it and then it moved into another domain entirely. All of that appears to have been wasted.