asked the Minister for Industry, Commerce and Energy if he will state (a) the total amount of public money invested by way of loans and grants in a firm (details supplied) in County Longford and the amount of such money likely to be recovered following the closure of this firm; (b) the circumstances whereby the IDA reversed their previous decision not to purchase the former premises of this firm; and (c) why this eventual purchase price involved a 50 per cent capital profit to the vendor in a period of less than one year.
Ceisteanna—Questions . Oral Answers . - County Longford Firm Closure .
8.
: So far as the State agencies under my aegis are concerned the position is that none of these is empowered to give loans. I am informed by the Industrial Development Authority—
(i) that grants totalling £100,470 have been paid by the authority to the company to which the Deputy refers. This company is in receivership and a claim for repayment of all grant moneys has been lodged by the IDA with the receiver. The amount, if any, of grant moneys which can be recovered is not yet known:
(ii) that the authority did not at any stage take a decision not to purchase the factory, and
(iii) that the price paid by the IDA for the premises was based on the valuation placed on them by their expert staff and is in line with the going rate for similar industrial properties elsewhere.
: Could the Minister say when it is likely that he will have some idea as to when it will be recovered? What is the time project?
: I cannot give the exact time but I would be hopeful that it would be pretty soon. There is a considerable demand for industrial premises in Longford, I am glad to say, and I presume there will not be any great delay.