Results 361-380 of 1,054,405 for in 'Dáil debates' OR (speaker:Tom Kitt OR speaker:Mairead Farrell OR speaker:Seán Ó Fearghaíl OR speaker:Michael Lowry OR speaker:Steven Matthews OR speaker:Brian Leddin OR speaker:Mick Barry OR speaker:Jennifer Murnane O'Connor OR speaker:Gary Gannon OR speaker:Claire Kerrane OR speaker:Jackie Cahill) in 'Committee meetings'
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Okay, we will go back to Cairn Homes and I will see what I can find out in the meantime. What was the average cost to purchase a unit from Cairn Homes?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: It is €435,000. I understand from the NewERA report that the LDA's direct delivery costs are quite similar to the costs for Project Tosaigh. Is that the case? I am just receiving information that the LDA is off-balance sheet but we will have to come back to this. This is taken aside from what I was going into. When a buyer wants to buy a house outright, what seems to be...
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I want to keep going back to the off-balance sheet issue because I only have a few minutes and it keeps coming up.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I know that. It is my first time at this committee. It is my understanding the LDA's borrowing is potentially off-balance sheet too. Can full clarification on that be brought back to the committee? Is that easiest?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Definitely, 100%.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Yes, and then the €1.25 billion is from the AIB shares sale-----
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: The €5.7 billion. On the issue of the €1.25 billion, will that be off-balance sheet as well?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Is it correct that all is considered off-balance sheet? That is €2.5 billion. Will the €1.25 billion Mr. Coleman mentioned be off-balance sheet as well?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: No. Obviously there is the amount that can be borrowed but we are not at that point at present. We are talking about the €2.5 billion and then, was it not, an extra €1.25 billion that the Department had mentioned that it could get down the line? Would that be off-balance sheet?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Perfect. I thank Mr. O'Sullivan.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: My understanding is that the borrowing is something that the Department is looking at potentially next year or maybe in the future, but we are not looking at something concrete right now. Is everything we are talking about right now off-balance sheet?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: That is what I was trying to get at. I thank Mr. O'Sullivan. I was trying to get clarity on that. Are there any concerns about the fact that at present that is all coming from State funding, State subsidies, grants or whatever we want to call it, and that it is not turning a profit? Dividends have not been paid back or whatever.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: But it is not absolutely definite.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I am sorry about that now. I just was trying to get-----
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Of course.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: And profit..
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Surely profit as well.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: No. My question is more that it seems it is totally reliant now on State subsidies and State investment and that there is not that kind of commercial aspect, whether it be borrowing or profits being reinvested, and that it is solely done on a State investment.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Fully, yes.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I totally get that is what it says on the tin but the point that I am trying to make is that they would not be commercially viable without the State subsidies, which are significant. For example, last year the agency said that €5.7 billion was needed in capitalisation. At this moment in time all the capitalisation is coming either from the ISIF or the AIB shares sale. When the LDA...