Vol. 405 No. 7
6 Proinsias De Rossa asked the Taoiseach if he will outline the progress made so far in regard to the redevelopment of the Temple Bar area; when the new company to co-ordinate the development will be established; and if he will make a statement on the matter.
Temple Bar Renewal Limited, chaired by the Lord Mayor of Dublin, Michael Donnelly, was mandated by Government in October of last year to draw up specific development action proposals for the Temple Bar area and to assume that the Government will consider incentives related specifically to development of Temple Bar as a Government flagship project for Dublin European City of Culture 1991.
I have recently received the company's proposals and the Government will now decide on the specific action to take in developing the Temple Bar area. As a first step, a new company to undertake the development of Temple Bar has been established named Temple Bar Properties Limited. This is a company limited by shares of which I or the Minister for Finance will be the sole shareholder. Arrangements are being made through my Department, pending the appointment of a board and staff for this company, to acquire the property holdings of CIE and Dublin Corporation in the Temple Bar area and to arrange loan financing for the development of the area from the European Investment Bank.
Does the Taoiseach intend to publish the proposals which have been received from the group concerned? When does he expect the Government to make a decision in relation to the proposals? Does he intend to proceed with the suggestion that the Government should consider an amendment to section 4 of the 1989 Finance Act to provide incentives for development in the area? What relationship will CIE, who are the owners of the property concerned, have with the new company, Temple Bar Properties Limited?
I have received the report recently. I will certainly favourably consider publishing the report unless there are some technical difficulties in the way. Secondly, the range of financial and other incentives to be established for the area is being considered. Thirdly, CIE will have no particular function in regard to the development of the area. CIE's involvement is that they are the property owners at the moment.
Given that the redevelopment of the Temple Bar area is a Government flagship project for Dublin European City of Culture 1991, can the Minister be a bit more forthcoming about the timescale envisaged for this project? Can he tell the House the estimated value of the site to CIE? What is the position of CIE in regard to the proposals in so far as they are the owners of the site, having acquired it as a site for a central bus station? The Taoiseach has dismissed any role for CIE except as owners of a property. Can he elaborate on the value of the site to CIE. In other words, has the arrangement between CIE and Temple Bar Properties Limited been reached on an agreed basis?
An arbitrator will be appointed to decide the value at which the properties will be transferred from CIE to the new project. One of the encouraging factors is that the European Investment Bank have come to the aid of the project in a very substantial way.
