David Cullinane (Sinn Fein) | Oireachtas source

I move amendment No. 1:

In page 8, between lines 25 and 26, to insert the following:"(4) Notwithstanding the generality of the foregoing, following the dissolution of the Authority and after all its liabilities have been met and subject to there being a surplus remaining the Council shall establish a central fund to be used for social gain for the benefit of the local community to be administered in conjunction with the Docklands Community Trust.".".

The purpose of this amendment is to ensure the communities in which the docklands authority was based will benefit exclusively from any surplus that comes to Dublin City Council from the dissolution of the authority. As we know, when money comes to local authorities following these types of sales, it goes back into general funding. We are proposing in this amendment that the moneys be ring-fenced for the benefit of residents in the docklands area. I accept that the communities benefited to some degree from the docklands development and that the various projects contributed to the success of business located under the authority. It is right that any surplus arising from the dissolution of the authority be targeted at those communities rather than going into the council's fund. This will ensure the money is used to fund community projects, including community-based initiatives that are creating employment.