The tender procedure organised by Bord Fáilte, under the direction of the independent management board for product development and conducted in accordance with EU Council Directive 93/37/EEC, culminated in June 1998 in the selection of the proposal submitted by Spencer Dock International Convention Centre Limited, to develop the conference centre, with European Regional Development Fund assistance, at a site in Dublin's docklands.
Under the terms of the operational programme, decisions on grant applications in respect of amounts at or above 15 million ECU must be made with the agreement of the Government and the EU Commission on foot of a cost-benefit analysis conducted in accordance with community law. This cost-benefit analysis, which was favourable towards the project, was undertaken by independent consultants.