Dáil Éireann Debate, Tuesday - 2 March 2010
162 Deputy Phil Hogan asked the Minister for Finance if he gave consent for additional borrowing for the Dublin Docklands Development Authority to engage in its purchase of the Irish Glass Bottle site in October 2006 as required under section 30 of the Dublin Docklands Development Authority Act 1997; if he communicated any concerns or conditions with its consent for increased borrowing; and if he will make a statement on the matter. [10087/10]
View answerUnder Section.30 of the Dublin Docklands Development Authority Act 1997, the Dublin Docklands Development Authority is entitled to borrow up to a limit of €127m, with the approval of the Minister for the Environment Heritage and Local Government and the consent of the Minister for Finance.
In October 2006 the Dublin Docklands Development Authority applied to and was given approval by the Minister for the Environment, Heritage and Local Government, with the consent of the Minister for Finance, to borrow up to that limit for the purpose of acquiring the Irish Glass Bottle Site in the Dublin docklands area.
The consent of the Minister for Finance was given on the basis that the authority had the capacity to service the debt incurred without recourse to the Exchequer.
