I am aware of concerns, expressed most recently at the meeting of the Joint Committee on the Environment, Heritage and Local Government on 10 February 2009, regarding the involvement of the Dublin Docklands Development Authority in the purchase of the site concerned, and related conflicts of interest on the part of members of the Board of the Authority.
The Authority was established in 1997 with the general duty to secure the social, economic and physical regeneration of the Dublin Docklands Area. To this end, it has engaged in extensive business transactions involving the purchase, management, development and sale of lands in the area. The Authority considered it necessary to become involved in the purchase of the Irish Glass Bottle (IGB) site because of its key location on the Poolbeg Peninsula and its significant development potential. The value of the site has been affected by the recent downturn in property values, but the Authority is satisfied that, as a long term investment, it will bring substantial benefits in terms of high quality physical development and community gain.
My Department has been advised by the Dublin Docklands Development Authority that, in accordance with the Authority's Code of Conduct, certain members of the Executive Board of the Authority declared conflicts of interest regarding funding arrangements for the purchase of the IGB site, and did not participate in the relevant decision making process.
