Vol. 426 No. 5
120 Mr. Yates asked the Minister for the Environment the level of investment to date by the Government in the Custom House Dock site and the level of return, if any, to date; the projected rate of return for the years 1992 to 1994; whether this will conform to the requested 5 per cent rate of return on investment as outlined in the 1991 annual report; and if he will make a statement on the matter.
Direct support from public resources for the Custom House Docks development has consisted of an Exchequer payment of £9 million towards the cost of the 27 acre site made available for the development and grants totalling £1.3 million made to the Custom House Docks Development authority between 1986 and 1988.
The authority has already repaid a sum of £1.35 million to my Department, in addition to securing the redevelopment of a substantial portion of the site. The timing and amount of future returns from the development will depend on the outcome of negotiations between the Authority and the Custom House Docks Development Company aimed at completing the development.
