the council - dublin · pdf file09 paul dolan east wall community council ... kevin humphries...

The Council

01 Lar BradshawChairman, Dublin DocklandsDevelopment Authority

02 Betty AsheSt. Andrew’s Resource Centre

03 Bertie BarryBord Gáis Éireann

04 Ann ButlerEnvironmental ProtectionAgency

05 Sean CareyAssistant City Manager, DublinCorporation

06 Ann CarrollRingsend and IrishtownCommunity

07 Enda ConnellanChief Executive, Dublin PortCompany

08 Cllr. Ciaran CuffeDublin Corporation

09 Paul DolanEast Wall Community Council

10 Cllr. Senator Joe DoyleDublin Corporation

11 Gerry FayNorth Wall CommunityAssociation

12 Mary FinanDublin Chamber of Commerce

13 James J. GahanGroup Property Manager,CIE Group Property

14 John HenryDirector, Dublin TransportationOffice

15 Cllr. Kevin HumphriesDublin Corporation

16 Philip JonesIrish Planning Institute

17 Cllr. Garry KeeganDublin Corporation

18 Cllr. Senator Tony KettDublin Corporation

19 Seanie LambeInner City OrganisationsNetwork

20 Pat MagnerChairman, Government TaskForce on Grand and RoyalCanals

21 Brendan ManningESB

22 John MartinChief Executive, WaterwaysIreland

23 Finian MatthewsDept. of Environment andLocal Government

24 Grainne McBrideFÁS

25 Charlie MurphyChairman, Rinn DevelopmentInitiative

26 Dolores WilsonSt. Andrew’s Resource Centre

01 02 03 04

05 06 07 08

09 10 11 12

13 14 15 16

17 18 19 20

21 22 23 24

25 26

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From left to right

Séan FitzPatrick Anglo Irish Bank

Mary Bergin James Fagan & Co. Solicitors

John Egan Project Management Limited

Lar Bradshaw Chairman, Dublin Docklands Development Authority, McKinsey & Co. Inc. Ireland

Mary Moylan Dept. of The Environment and Local Government

Professor P.J. Drudy Dept. of Economics, University of Dublin, Trinity College

Cyril Forbes Jardine Lloyd Thompson (Ireland) Limited

Joan O’Connor Interactive Project Managers Limited

The Executive Board

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Marino CollegeOur Year in Focus!As principal of Marino College, it has been my privilege to have our school included in this wonderful yearbook!

Marino College has a proud tradition in education datingback to 1936. Currently, our enrolment exceeds 500 students who are following various courses including Junior Certificate, Leaving Certificate, Vocational LeavingCertificate, Leaving Certificate Applied (L.C.A.) and PostLeaving Certificate (P.L.C.) Courses. A large proportion of ourstudents come to us from the Docklands area.

The school year 2002/2003, like so many others has been anoutstanding success. The photographs that follow, we hope,capture some of the spirit and moments that have made it such a special and memorable year.

I wish to take this opportunity to thank the Dublin DocklandsDevelopment Authority for their ongoing and continued support which is much appreciated.

We hope you enjoy not only our contribution but all of theyearbook.

Best Regards

John Hogan, Principal

www.marinocollege.ie

School Crest

C.D.V.E.C. Crest Latin

School Swish Logo

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Second Year students withMs. Maguire visit the Bull

Island Interpretative Centreas part of their E.S.S.

Geography field study.January 2003.

Enjoying the FestiveSeason! Our studentstake part in the AnnualChristmas Quiz whichmarks the beginning ofthe Christmas Holidays! December 2002.

Operation Christmas Child! Class Elm

busy at workpreparing shoe

boxes which theyfilled with goodiesand were sent to

needy children in Romania.

December 2002

School Events – The Highlights!

Leonie Craig, Senior Cyclestudent pictured here with the Lord Mayor at the launch of the Comhairle na nÓg promotional video “YoungDubliners Speak Out.”Leonie features prominently in the feature – a buddingactress in the making! November 2003.

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Our senior students, parents and teachers enjoy a night out at the Abbey’s production of The Plough and the Stars. November 2002.

Famine - Past & Present! Our third years exhibit

their cross curricularproject in the school as

part of their J.C.S.P.Programme.

October 2002

Mr. Hogan, Principal, pictured with Barbara Dwyer, Angela Roe and Mary Gray, members of The Parents’ Group at their first A.G.M. held in the school.December 2002.

Our first years host a Library Launch to highlight the

recent development and upgrading of the

school’s library facilities. February 2003.

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The Sixth Years Debs - October,2002. Audrey Nolan, KarenShelley, Mark Sutcliffe and

Sabina Whelan enjoying theannual Debs. Preparations are

well under way by the studentsfor this year’s Debs which will

be held in the Red Cow Inn in the Autumn.

Ms. McMorrin, Tutor and EmerHyland (3rd year) attend theJ.C.S.P. Presentation of Profiles to our Junior Certificate students.May 2003.

Our Wannabe College Kids!Students sample universitylife by attending a summercourse run by N.U.I. andsponsored by the D.D.D.A. September 2002.

Open Day Prize Winner! Janice Grant,

St. Laurence O’TooleG.N.S., who attendedour annual Open Day

and won herself a bicycle courtesy of

Little Sport. Attendingthe presentation are

Eamon, Mr. Grant, Ms. Nagle, Principal,

St. Laurence O’Toole’sG.N.S. and Mr. Hogan,

Principal, MarinoCollege. February

2003.

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Vision for the Future! Our senior students link up with ‘Vision’,a local I.T. company in East Point Business Park, as part ofour student mentoring programme.

‘Fluffy Puffs’ Opens for Business! Seniorcycle students produce pot pourri, products as part of their Link ModuleEnterprise Project.

Our senior students whorun The Breakfast Club

every morning. September 2002.

Congratulations to ourpupils and their dedicatedteachers who achieved a 100% success rate inthe Junior CertificateExamination. September 2002.

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First years clearly in good spiritsenjoy mega fun on the mountains. May 2003.

A ‘damp’ but not dismal experience in the Wicklow

mountains for 2nd year classesAsh and Elm, pictured here

with Class Tutor Mr. Fleming and Calvin, their guide.

December 2002.

Class Liffey hoping to hit a ‘homer’ at Rounders inFairview Park. April 2003.

The Junior Rounders teamwho represented the school

at the S.C.C. RoundersCompetition. May 2003.

Sporting Highlights

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Check-mate! First years enjoytime out from their studies tojoin in our lunch-time games

club. March 2003.

Meddling in Santry!Students proudly displaythe silverware after com-peting in the SCCAthletic Trials in Santry,May 2003. The schoolwon the trophy for BestJunior Girls’ Team.

Ready Set Santry! JuniorBoys line up for the 100 metre sprint. May 2003.

Marino “Boys in Blue” represent the school in the Shelbourne Trophy Senior Soccer Competition.April 2003.

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Tensions run high as the senior Gaelic team are ralliedby Mr. Evoy, their Manager,before the throw in at the first match of the SCC GaelicFootball Tournament. Autumn 2002.

Tiger turns up to tee off in atremendous tournament –we wish! Our senior boys

enjoy a day of pitch andputt in Rathfarnham compliments of the

SCC. May 2003.

Our Junior Girls’ Relay team – winners of the Silver Medal at the SCCAthletics Finals. Well done girls! May 2003.

“Me ref? You can’t beserious!” Our Junior

Boys Basketball teamwho lost out narrowly

to Cabra in the final stages of the

SCC BasketballTournament held inColaiste Dhúlaigh.

March 2003.

PLC Courses – Under the Spotlight

Travel and Tourism studentsparticipate in a day-longtraining session down in

Waterford Airport. March 2003.

The Photography Class at Edinburgh Airport on

their annual culturalouting. Always a big

success, the studentsenjoy taking in thesights, visiting the

galleries and taking lots of pictures

of course! December 2002.

Drama students who participatedin the College’s production ofBrendan Kennelly’s version ofAntigone in the Crypts Art Centrein Dublin Castle. The students arelooking forward to receiving theirequity cards on completion of theiryear-long course.

Multi-Cultural Day in ConnollyHouse, May, 2003. Our PLCstudents enjoy a day ofmusic, art, photographic exhibitions and food ofcourse! A great day was had by all!

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Boyne [1st Year]

Wayne Byrne, Stacey Farrelly, Jennifer Fay, Veronica Glynn, Samara Kinsella, SharonMartin, Leanne McCarthy, Philip McCarthy, Lydia McCarthy, Joseph McGucken, CorrineMeehan, Danielle Menton, Therese Murphy, Craig O’Hanlon, Sinead Reid, Lydia Whelan

(Names not in order)

Shannon [1st Year]

Carol-Ann Byrne, Kirsty Flood, Gillian Flynn, Craig Grimes, Anthony Hughes, Amy Kelly,Danielle McCarthy, Jason O’Reilly


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Class Photographs

Liffey [1st Year]

Toyosi Alli-Fowosere, Alice Dunne, Anthony Hughes, Gillian Kearney, Rachel Kelly, Elizabeth McCarthy, Leroy McCarthy, Christine Meehan, Lorrina Thompson


Ash [2nd Year]

Mark Burke, Lesley-Ann Kavanagh, Ian McDonnell, Lorraine O’Brien, John-Ross Reilly, Ciara Russell


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Oak [2nd Year]

Paul Arkins, Séan Arkins, Leanne Brennan, Lisa Byrne, Paul Byrne, Karen Connolly, Terri Corbally, Karen Cullen, Christopher Flood, Dean Malone, Jennifer McDermott, Veronica McDermott, Carly Mangan, John Nugent, Rachel Pigott, Lyndsey Redmond,Jessica Roche, Antoinette Scanlon, Carl Taffe


Elm [2nd Year]

Thomas Byrne, Catherine Byrne, Danielle Dunne, Martina Kelly, Stephen Keogh, Dean Macken, Jonathan McAuley, Nicole McCarthy, Georgina O’Neill, Tanya Shevlin, Jason Taffee


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[3rd Year]

Paul Beatty, Anthony Byrne, Tracey Carabini, Sinead Coyne, Ciara Cummins, Natalie Delaney, Mark Flanagan, Natalie Flood, Stephanie Gallagher, Kim Grant, Sinead Hevey, David Isaacson, Erica Kiernan, Stewart McCluskey, Pauline McCarthy, Conor McDonald, Eoin McDonald, Jennifer Reid, Melissa Thompson


[3rd Year]

Ciara Byrne, Joseph Byrne, Donna Conway, Gillian Flynn, Emer Hyland, Anne-MarieJackson, Lauren Judd, Rachel Kavanagh, Aiden Moroney, Dean O’Reilly, David Redmond,Gemma Roe, Stacey Spain


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[3rd Year]

Joseph Flood, Nicole Ivers, Wesley Kavanagh, Philip Macken, Janice McDonald, Leanne Meehan


5F [5th Year]

Paul Byrne, Sharon Byrne, Patrick Harcourt, Peter Halpin, Stephanie Kineen, Donna McGovern,Jacqueline McGucken, Michelle Murphy, Dasola Salami


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5K [5th Year]

Melissa Byrne, Jemma Carabini, Tanya Donohue, Ciara Doyle, Jennifer Duffy, Ciara Fay,Jennifer Fitzsimons, Leanne Gilchrist, Darren Glynn, Michelle Hyland, Jennifer Kane, Emma Keoghan, Leanne Maher, Jade McCarthy, Ross McCarthy, Nicole O’Reilly, Kim Trimble


6V [6th Year]

Chris Bonnell, Fiachra Burke, Caroline Burns, Nikkita Carr, Kim Dunne, Louise Dwyer, Amanda Griffin, Anthony Martin, Susie McCarthy, John McCann, Melissa Murray, Stacey O’Neill, Irene O’Reill


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6G [6th Year]

Nicola Byrne, Thomas Daly, Rachel Duffy,Paul Kearney, Gary Kelly, David Osborne, Nikita Radford, Jamie Reilly, Rachel Ryan,Ian Thompson, Donna Whelan


6E [6th Year]

Jodie Dowdall, Caroline Flanaghan, Patrick Grealish, Pearl Harcourt, Leanne Kane, Elizabeth Kennan,

Caitriona O’Reilly


6V [6th Year]

Christopher Bonnell, Nicola Byrne, RachelDuffy, Louise Dwyer, Paul Kearney, GaryKelly, Elizabeth Kennan, Anthony Martin,Nikita Radford, Jamie Reilly, Rachel Ryan


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Social and Economic Regeneration

Education

The Authority has continuedthe development of itseducation-related initiatives,based on the principle of “SaolScoil” or Lifelong Learning,during 2000.

Working with the community and witheducational and training organisations, a widerange of programmes to provide enhancededucational, training and job opportunities wereexpanded.

In September 2000 An Taoiseach, BertieAhern, laid the foundation stone of the NationalCollege of Ireland Docklands Campus and thecontractors began the development process inDecember. The Docklands Campus will open itsdoors to the community and to business inSeptember 2002.

The Parents in Education Programmeexpanded in 2000 with over 100 Docklanders

spread over Modules 1, 2 and 3. The course isaimed at members of the community seeking todevelop their understanding of the educationalsystem and their skills in leadership andcounselling with a view to their effectiveness inthe community and working to defeateducational deprivation.

The academic year 2000/2001 is the thirdyear of the 3rd Level Scholarship Program, atotal of 31 Dockland students have beenawarded scholarships under this scheme. ThisAuthority scheme attracts co-sponsorship fromReuters and SIPTU (Construction). The financialassistance given to the students, together withthe mentoring and progress reviews, inassociation with college tutors, has been foundto be of enormous value by the participatingyoung Docklanders.

During the year the Authority agreed tosponsor a Junior Achievement in all Docklandnational schools, thus accessing over 750pupils. The Programme, which aims at tacklingeducational under-achievement, brings businessmentors into the school class to introduce theconcept of educational achievement leading toeconomic and business success and teachesbasic entrepreneurial skills.

The Authority has also introduced an AfterSchools Study Club in the Community TrainingWorkshop in the North Wall. This scheme bringsin business people from the IFSC to mentoryoung Dockland students in the lead up to theirJunior and Leaving Certificate examinations.

Liaison with Docklands school principalscontinued during the year and the Authorityinvested in a range of minor investment projectswithin the schools, including computer roomdesign and layout and security lighting andelectrical work. The Authority has also, duringthe year, worked closely with the Life Centre atPearse Square resourcing a number of initiativesaimed at providing Junior and LeavingCertificate education to children who droppedout from the mainstream educational system.

Chief Executive’s Review

Opposite | Docklands Students at the close of their Discovering University week at U.C.D. Pictured with the students (From left to right) Gus Dwyer - Social Development Officer with the Authority, Dr. Caroline Hussey - Registrar, U.C.D. and Joyce O’Connor - President, NCI

Below | The Executive Team (From left to right) Martin O’Sullivan - Director of Finance, Neil Mulcahy - Secretary, Terry Durney - Director of Planning and Technical Services, Peter Coyne - Chief Executive,Grainne Hollywood - Director of Property, Gerry Kelly - Director of Social Programmes and Corporate Affairs

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Training and EmploymentIn January 2000, An Taoiseach formally opened thenew North Wall Community Training Workshop inSeville Place. This IR£1.4m facility provides capacityfor 80 full-time places as well as a whole range ofcommunity development initiatives for the future.

The Schools Job PlacementProgramme resulted in theplacement of a further twenty-three Docklands school leaversworking in Financial Services inthe IFSC in September 2000.

The Scheme, which is operated with theassistance of FÁS, secures employment for peoplein the last year prior to the Leaving Certificate on thecondition that the students achieve their LeavingCertificate. Sixteen different companies participatedin the Scheme in 2000/01 to provide theplacements, each guaranteeing an initialemployment period of one year. The Authorityarranges for participants to obtain their EuropeanComputer Driving Licence during the summerholiday period. In addition, during the year eveningclasses continued in the Authority’s offices on afoundation skills course in financial administration forthe participants. All of the participants from formeryears are now continuing to enjoy employment in theInternational Financial Services Centre or havemoved on to promoted positions elsewhere.

The Schools Job Placement Programme andsimilar schemes such as the NCI/Bank of IrelandReturner Development Scheme, the Dublin SchoolsBusiness Partnership/DFIA Placement Scheme andthe North Wall Women’s Centre Return to WorkScheme are proving to be particularly effective inconnecting the new industries coming into the area,as a result of the Docklands project, with the existingcommunities. These projects and similar are key tothe sustainability of the Docklands project.

A further eight young school leavers were placed

in employment under the Docklands sponsoredapprenticeship scheme. Employment was securedwith a range of construction-related companiesconnected with the redevelopment of the area. Thetotal number now participating in the apprenticeshipscheme is thirty-five.

The Local Labour Charter, incorporated in theMaster Plan, which sets a target of 20% of createdjobs to be filled by local labour and which wasparticularly successful during the constructionphases of IFSC II in 1998 and 1999, has changed inits emphasis as a result of the full employment withinthe economy generally. Initiatives like the SchoolsJob Placement Programme and educationaldevelopment programmes become the critical areasfor future success. There remains, never the less, acore of long-term unemployment (12%) in theDocklands well above the national average (4%). TheAuthority continued to seek to recruit from amongstthe long-term unemployed, placing some twenty-two persons during the year in a range ofemployment activities and is currently re-evaluatingits strategy for tackling the residual levels of long-term unemployed, many of whom have particulardifficulties.

Community Development Project InitiativeThe Community Development Project Initiative aimsto resource community infrastructure projects thatare initiated and led by the community.

This is a form of empoweringthe community and recognisingtheir accountability. It is a fit tothe Authority principle ofsteering not rowing incommunity development.

During 2000 the Authority assisted schemesfrom 1999 advanced to substantial completion. TheAuthority re-ran the Scheme during 2000, awardinggrants totalling IR£750,000 for implementation in2001.


Community Development Project Initiative (CDPI) Approved 2000 for 2001 implementation.Proposer Brief Description Awarded by

DDDA

St. Marys Youth Club – East Wall Renovation of facilities £2,600

North Wall Community Association Office furniture and equipment for CommunityAssociation offices £5,000

After Schools Educational/Support Prog. Mini bus for childrens transport £12,500– Sheriff St.

East Wall Swimming Club Mini Bus for childrens transport £12,500

East Wall Water Sports Group Development of clubhouse, yard and launch area £210,000

Life Centre – Pearse Street Treatment of dampness. Replacement of windows.Work to roof £45,000

Life Centre – Pearse Street Mini Bus for childrens transport £12,500

East Wall/North Port Development Group Office equipment & furniture for youth facilities andservices office in St. Mary’s Youth Club £5,000

North Wall Senior Citizens Committee To refurbish kitchen and dining room £10,000

Pastoral Centre – Seville Place Office furniture & equipment for counsellingservices offices £5,000

Poolbeg Training Ltd Alterations to and upgrading of the Rinn Voyager £50,000

St. Agathas Dev. Assoc. North Strand Refurbish St. Agathas Hall & build extension £50,000

Sheriff Youth Club – North Wall Mini Bus for childrens transportation and for useby Senior Citizens Group £12,500

Clanna Gael Fontenoy G.A.C. To drain & reset 1 pitch and make end pitch intoall weather pitch £184,000

Ringsend & District Community Centre Extension to existing Community Centre £115,000Development Group

Parents Education Group (P.E.G.) Purchase of equipment and materials for newPottery Room £10,000

Approved 1999. Implemented 2000.Inner City Boxing Club Improvements to Inner City Boxing Club £30,000

North Wall Womens Centre Extension to North Wall Womens Centre Creche £40,000

St. Josephs Comm. Pre-School Playgroup Refurbishing of Pre-School Playroom £3,000

East Wall Community Centre Ltd Extension to Day-Care Centre for Dependent Elderly £70,000

St. Andrews Resource Centre Restoration of Millennium Diving Bell £44,000

St. Andrews Resource Centre Renovation of Special Social Housing £86,000

Cambridge Boys Football Club New clubhouse £25,000

Ringsend & District Comm Dev. Group Development of Community Centre £120,000

EMPOWERING

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Social and Affordable HousingDuring the year 37 units of social and affordablehousing came on stream within the Clarion Quaydevelopment in IFSC II.

These homes will be managedby the St Pancras HousingAssociation and will havepeople living in them in mid-2001.

In addition, the Authority secured planningpermission for a further 72 homes on a site at EastRoad and another 32 at Pickford Terrace/SheriffStreet. Work on these latter two schemes will besubstantially advanced during 2001 withoccupation in 2002.

During the year the Authority financed trainingcourses for local communities interested inestablishing local housing associations. RespondHousing Association delivered the courses withclose on 20 community representatives takingpart.

During 2000 the Authority developed a Not-for-Profit rented housing model targeting thoseoutside of the social housing income limits but yetunable to afford to buy or to pay market rents inthe Docklands area. At the year end the model wasunder review by Government.

The Department of the Environment and LocalGovernment confirmed during the year that theAffordable Sites Grant would be applicable to unitsdeveloped under the Dublin Docklands AreaAffordable Housing Scheme, 1999. In addition, thePlanning Act, 2000 was passed, giving a furtherstatutory basis for the 20% social and affordablehousing requirement. These two factors proved,towards the end of the year under review, to be ofparticular value in negotiations with developersseeking to pursue Section 25 residentialdevelopment in the Grand Canal Dock Area andwill lead to successful implementation of mixedtenure schemes by the private sector in 2001.

Planning

Grand Canal Dock AreaFollowing the Section 25 Order approval by bothHouses of the Oireachtas and the signing of theOrder by the Minister for the Environment andLocal Government, Noel Dempsey, TD, theAuthority immediately moved to prepare andconsult upon the Planning Scheme for the area.

The production of an AreaAction Plan in 1999 facilitatedthe making of the PlanningScheme which wassubsequently approved by theMinister in December 2000.

Extended Custom House Docks Area DraftPlanning SchemeIn July 2000 An Bord Pleanala refused planningpermission for the development proposals of theSpencer Dock Development Company Limitedand CIE at Spencer Dock, excepting that theygranted planning permission for the NationalConference Centre. The Authority appointedconsultants for the preparation of the PlanningScheme for the Extended Custom House DocksArea (31.4 hectares) inclusive of the Spencer Docksite and bounded by Sheriff Street, East WallRoad, the River Liffey and Guild Street. Followingpre-draft consultation with local communities,stakeholders and landowners, the Authoritycompleted the draft Scheme and this has nowbeen launched (January 2001) for formal publicconsultation. It is anticipated that the PlanningScheme process will have been completed andthe Planning Scheme in place by mid-2001.

Development ControlSection 25(7)(a) of the Dublin DocklandsDevelopment Authority Act, 1997, provided thatthe carrying out of development in the Custom

Opposite top | Grand Canal Dock Area Planning Scheme – creating a vital and viable place reconnected to the city – 60% (by land) residential, 40% commercial – plot ratios 2.5-3.0:1 – circa 3,500 homes and 400,000m2 non residential development – extensive public realm

Opposite bottom | Extended Custom House Docks Area Draft Planning Scheme – 3D illustration of draft – major boulevard in Mayor Street – 2 new piazzas at transportation nodes – linear canal park at Spencer Dock – National Conference Centre – landmark tower at the Point

Commercial Residential

LIVING,PLANNING,

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House Docks Area, which is certified by theAuthority as consistent with the Planning Schemeprepared under this Section, shall be exempteddevelopment for the purposes of the LocalGovernment (Planning and Development) Acts,1963. During 2000 eighteen such applicationswere received with regard to the IFSC I and IFSC IIareas and sixteen certificates were issued duringthe year.

Development

IFSC IDuring 2000, following the Government’s decisionnot to proceed with the Ecosphere Project, theAuthority and the Custom House DocksDevelopment Company Limited endeavoured toproduce an alternative viable scheme for Stack A.However, this did not prove possible and theJoint Venture Agreement was amicablyterminated. The Authority is now directlyimplementing a scheme of refurbishment of the10,000m2 listed building. The work will restore thefabric of the building including the cast-iron frameand roof structures.

During the refurbishment worksthe Authority will market theproperty for retail, leisure andcultural uses as envisaged in theoriginal Custom House DocksDevelopment Plan with buildingworks completing in 2003.

The termination of the Joint VentureAgreement with the Custom House DocksDevelopment Company Limited (itself a JointVenture between Hardwicke Limited and theBritish Land Company plc) is a significant eventand the Authority would wish to record its thanksto the Company for its achievements in thedevelopment of IFSC I.

IFSC IIDuring the year, all the remaining office buildingswithin IFSC II were completed and occupied. Theaggregate office accommodation within the IFSCnow extends to 200,000m2.

The Excise Inn was completed and sold by theAuthority providing a 1,100m2 pub and restauranton Mayor Street. The Joint Venture between theAuthority and the Hotel Partnership saw thecompletion of the Clarion Hotel on the North WallQuay. Upon completion of its fitting out, theClarion Hotel was opened in the Spring of 2001and provides some 147 bedrooms, together withleisure centre, restaurant and banqueting facilities.

The Clarion Quay residential developmentmade substantial progress during the year withthe first phase of 36 apartments being sold offplan. The scheme includes 20% social andaffordable housing and will achieve completionand occupation in mid-2001. On the north side ofMayor Street the Chesterbridge developmentcompleted its second phase with a further 270apartments and by the year end some 8 retailunits were open on Mayor Street providing arange of shopping opportunities including generalgrocers, pharmacy, café bars and similar. The finalblock on the Chesterbridge development wasprovided with a revised Section 25 and itsdevelopment during 2001 will complete thenorthside of Mayor Street in IFSC II.

The final element within the Authority’s owndevelopment on the south side of Mayor Street isthe National College of Ireland. A revised schemewas prepared during 2000 with the Collegeacquiring additional land from the Authority inorder to develop a quadrangle of structures,including student accommodation. Theconstruction commenced in December 2000 andis expected to complete in mid 2002.

Grand Canal HarbourIn May 2000 the Authority launched its IR£1.5billion Grand Canal Harbour project. The GrandCanal Harbour is that part of the Grand Canal


Opposite | Building underway at Mayor Street, IFSC II with IFSC I in background

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Dock area under the ownership of the Authority.This former gas-manufacturing site will bedeveloped to deliver some 1,200 new homes and100,000m2 of commercial accommodation,together with a broad range of hotels, restaurantsand retail facilities. In particular, the developmentwill include a major public square (Grand CanalSquare) and a landmark cultural building.

Remediation work on the old gasworks site,which was formerly owned by Bord Gais Eireann(BGE), progressed substantially during 2000 undera Waste Transfer Licence from the EnvironmentalProtection Agency. Although ground contaminationissues are not abnormal for city centre sites, thereare particular concentrations of tars and other by-products from gas manufacturing in the soils andconsequently these are being excavated from thesite and removed. The site contains a number ofunderground tanks containing tar and despiteodour suppression techniques, strong tar-likeodours have emanated from the site from time totime during the works. The Authority’s scientistshave been carefully monitoring emanations fromthe site to ensure that the substances being takenoff the site do not produce any risk to localcommunities or those working on site. Consultationhas been very close with the local community andlocal businesses and concerns and anxietiesregarding the carrying out of the works have beenworked through in fortnightly consultative forums.

One of the centrepieces of the project will bethe 10,000m2 signature office building beingdeveloped on the site by Novell, a global leader ine-business and networking software. Novell wereappointed following a marketing of the site in theautumn of 2000. The new building will houseNovell’s European, Asian and African headquarters.

Public DomainThe campshire (area between river and road)project is one of the most significant public realmdevelopments in Dublin for many years.

When it is complete theCampshire project will provide over 5 kilometres ofriverside Public Park for thepeople of Dublin to enjoy rediscovering the Liffey.

During 2000 the Authority completed the worksin front of IFSC II. The Authority reserved anarea of blacktop within this new length for twocafés/restaurants that are now underconstruction and due to open in July 2001.

Leisure, Tourism and Events

During 2000 the Authority continued work on thepreparation of a River Regeneration Strategy forthe River Liffey. This River Regeneration Strategywill aim to produce a blueprint for thedevelopment of activities such as river taxis,restaurant ships, moorings/marina facilities andactivities on the campshires. The Authority alsocompleted a study into the development of cruisetourism for Dublin in association with DublinTourism, Dublin Port, the Dublin Chamber ofCommerce, Dublin Corporation and Bord Failte.The cruise tourism study identified that thedevelopment of a dedicated cruise liner terminalwas not critical to the development of the industryin the short term but that improved integration ofthe marketing arrangements could release aconsiderable expansion of the business to thegeneral good of the tourism industry in Dublin.During the year some six cruise liners fromScandinavia berthed on the Authority’scampshires and this business is likely to be anincreasing feature for the River Liffey.

As part of the St Patrick’s weekendfestivities, Skyfest 2000 took place in theDocklands on Sunday 19 March. It was thelargest firework display ever staged in Dublin.


Opposite | Liffey Challenge 2000 (Frank Miller, Irish Times)

1918

Tens of thousands of peoplevisited Docklands enjoying thiswaterside spectacular on thecampshires and many wereamazed to see the remarkableregeneration that the area isundergoing.

The Authority, once again, sponsored theannual Docklands Festival and more than 50,000people attended the three day event. Majorevents included the Docklands Sail-In of yachtsto the River Liffey, the Docklands Day Out and afree open-air evening concert of classical musicconducted by Garret Hudson (set upon a stageconstructed over the George’s Dock in the IFSC)that culminated in an evening firework displaysynchronised to the music.

To celebrate the second millennial Christmas,the Authority organised with Docklands churchesthe formation of a 100 strong Docklands choirand a free public carol service in the IFSC on theevening of Tuesday 5 December. Joining theDocklands Choir was St Mary of the AngelsGospel Choir. The Minister for the Environmentand Local Government, Noel Dempsey, TD,joined the celebrations and switched on thelights of Dublin’s biggest Christmas tree duringthe carol service.

International Financial Services Centre

The International Financial Services Centre,located in Dublin’s Docklands, is well establishedas a world centre for internationally tradedfinancial services. Over 300 leading banks andfinancial institutions have chosen Dublin as theirpreferred location to trade in a wide range ofactivities, ranging from international banking andfunds management to insurance and re-insurance.

The number of stand-alone companies certifiedin terms of the Finance Act, 1987 (and later theTaxes Consolidation Act, 1997) at the end of 2000totalled 440. A further 30 captive insurancecompanies and agencies were also certified,bringing the total employment by certifiedcompanies in the IFSC to more than 9000. 2000saw the end of the IFSC marketing period. Thefurther development of the Centre and the industrywill be by organic growth without targeted taxincentives. The physical development of the IFSCand its attributes as a location, together with thecontinued development of local employmentinitiatives is the key issue for the Authority withregard to the continued development of theDocklands hub of the industry.

The second phase of the IFSChas added enormously to thequality of the location for theindustry and the Stack Aproject beginning in 2001 willbe of major significance inenhancing the IFSC as alandmark international businesslocation.

Transportation

During 2000 a number ofinitiatives were introducedimproving the reality and theprospects of transportingpeople in the Docklands.

A new DART station at Barrow Street “GrandCanal Dock Station” was opened, thus providingDART services to the Grand Canal Dock area.Also during the year the Dublin TransportationOffice (DTO) published its long term programme of


Opposite | Trading Times at Bank of Ireland Treasury and International, International Financial Services Centre

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Transportation development. Launched on 2October 2000 by An Taoiseach, An Tanaiste andthe Minister for Public Enterprise, the strategypromoted substantial distribution of a newtransportation infrastructure, including, in particular:

1 a new underground DART standard servicelinking the Kildare and Maynooth lines in a routethrough Docklands with an underground“Docklands Station” at Spencer Dock,

2 a new Metro service linking south and centralDublin, including Tara Street Station with theAirport,

3 confirmation of the Docklands’ extension toLUAS on the Mayor Street line connecting withthe new Docklands Station at Spencer Dock,

4 a new LUAS route forming a Dublin Inner Orbitalline and passing adjacent to the Grand CanalHarbour to link with the IFSC and theDocklands extension line.

The implementation of the investment intransportation infrastructure is critical to theprogression of development in Docklands due tothe substantial congestion of the road system. Thisis reflected in the Planning Scheme requirements torequire occupiers’ dependency on publictransportation.

In 2000 the Authority, working in associationwith the IFSC companies, introduced the IFSCBusiness Bus. The bus provides a 15-minuteservice to the city centre and Heuston Station. InDecember 2000, Aircoach introduced a 15-minuteexpress coach service between the IFSC andDublin Airport. Both Aircoach and the IFSCBusiness Bus use the North Wall, Guild Street andMayor Street to provide a comprehensive routethrough the IFSC.

Finance

Careful husbandry and a favourable propertymarket have allowed another very good yearfinancially. However, we have a formidable

programme of capital and revenue investment overthe next two to three years relating, amongst otherthings, to the remediation and infrastructure atGrand Canal Harbour, the extended infrastructureand public realm works around the Grand CanalDock, schemes of works arising from the RingsendArea Action Plan and the City Quay (draft) AreaAction Plan, the continued campshire improvementworks, river regeneration infrastructure and thevarious bridge provisions. With the continuedsupport of Government, our current reserves,together with identified new income, give theAuthority the confidence to maintain themomentum of the project.

To Do

There is still much to be done and high amongst thekey issues for the Authority must be:

TransportationThe project cannot proceed unless the newdevelopment is facilitated by high volume publictransportation as set out in the DTO’s Platform forChange report. The LUAS line (c) extension toGuild Street needs to be in place in 2003 andextended to the Point by 2006. The interconnectorneeds to be operational from circa 2006 to allowthe north Docklands meet market demand.

TrafficPublic transportation will substantially avoid anyworsening of the traffic congestion in theDocklands arising from continuing development.However, the current growth in through trafficvolumes critically threatens the amenity of the area.Projects such as the Port Tunnel and the EasternBypass have the capacity to reduce through trafficvolumes and the Authority will continue to workwith the National Roads Authority, DublinCorporation and Dublin Port to improve the throughtraffic regime. The Macken Street Bridge has thecapacity to add enormously to local publictransportation and distribution but also to increase


through traffic in residential areas. It will be apriority for the Authority to ensure that the optimalstrategic solution is effected and generally toensure that Dockland traffic volumes and routes areregulated positively.

PlanningSecuring the optimal and most sustainablePlanning Scheme for the Extended Custom HouseDocks Area is a priority. The Planning Schememust stimulate Section 25 development by theprivate sector throughout the area, such that a newsustainable inner city environment is built, providingmuch needed capacity for homes and businessaccommodation according to the principles of theMaster Plan.

Direct DevelopmentStack A and the Grand Canal Harbourdevelopment are the Authority’s direct developmentpriorities and a rapid finalisation to the clean upworks at the former gas site at Sir John Rogerson’sQuay is critical to the latter.

HousingWith 2001 securing the first completion of theAuthority’s provided social housing and thecommencement of several Authority and privatesector schemes, our priority is to ensure that themost relevant distribution and allocation isachieved, meeting local needs and integrating wellwith the new private sector housing.

24 Report of the Executive Board28 Statement of Responsibilities of the Executive Board29 Auditors’ Report30 Statement of Accounting Policies32 Consolidated Income and Expenditure Account33 Consolidated Balance Sheet34 Consolidated Cash Flow Statement35 Authority Balance Sheet36 Notes forming parts of the Financial Statements

Report of the Executive Board and Financial Statements

2322

Opposite | DDDA Third Level Scholarship Programme - Karen Dowling, Law Student at Trinity College, Dublin.

2524

The Executive Board presents its report andaudited financial statements for the year ended 31December 2000.

Principal activities, business review andfuture developmentsThe principal activities of the Authority are tosecure:(i) the social and economic regeneration of the

Dublin Docklands Area, on a sustainable basis;(ii) improvement in the physical environment of the

Dublin Docklands Area; and(iii) the continued development in the Custom

House Docks Area of services of, for, insupport of, or ancillary to, the financial sector ofthe economy.

The Authority has performed satisfactorily in theyear to 31 December 2000. Further commentarieson performance in the year ended 31 December2000 are contained in the Chairman’s Statementand the Chief Executive’s Review.

The Executive Board has no plans to changesignificantly the activities and operations of theAuthority in the foreseeable future.

ResultsThe consolidated results of the Authority and itssubsidiary undertakings are set out on page 32 ofthese financial statements.

Corporate GovernanceThe members of the Executive Board arecommitted to maintaining the highest standards ofcorporate governance and support the Principlesof Good Governance and Code of Best Practice(“the Combined Code”) derived by the Committeeon Corporate Governance from the Committee’sFinal Report and from the Cadbury and GreenburyReports and the Turnbull guidance.

Principles of good corporate governanceThe members of the Executive Board areaccountable to the Authority’s shareholder forgood corporate governance. The followingstatement describes how the relevant Principles ofGood Governance set out in the Combined Codeare applied in the Authority and comments on itscompliance with the Code’s provisions.

Executive BoardThe roles of the Chairman and Chief Executive areseparate. The Chief Executive is not a member ofthe Executive Board. The members of theExecutive Board are appointed by the Minister forthe Environment and Local Government and

under the terms of the Dublin DocklandsDevelopment Authority Act, 1997, theseMinisterial appointments are for a period not toexceed five years.

The Executive Board meets regularly and isresponsible for the proper management of theAuthority. It takes the major strategic decisionsand retains full and effective control while allowingoperating management sufficient flexibility to runthe business efficiently and effectively within acentralised reporting framework.

The Executive Board has reserved certainitems for its review, including the approval of theannual financial statements, budgets, thecorporate plan, significant contracts, majorinvestments, significant capital expenditure andsenior management appointments. Each memberof the Executive Board brings an independentjudgement to bear on all matters dealt with by theExecutive Board including those relating tostrategy, performance, resources and standardsof conduct.

All members of the Executive Board haveaccess to the advice and services of the CompanySecretary who is responsible for ensuring thatBoard procedures are followed and thatapplicable rules and regulations are compliedwith. The Authority’s professional advisors areavailable for consultation by the members of theExecutive Board as required. Individual membersof the Executive Board may take independentprofessional advice if necessary, at the Authority’sexpense.

The Executive Board has activated an effectivecommittee structure to assist in the discharge ofits responsibilities, including:

Finance Committee MembersMr. Séan FitzPatrick (Chairman)Ms. Mary BerginMr. Cyril ForbesMr. Peter CoyneMr. Martin O’Sullivan

This committee operates under formal terms ofreference and meets on a regular basis throughoutthe year. The committee may review any mattersrelating to the financial management of theAuthority with specific reference to the financialimplications of major transactions. The FinanceCommittee carried out the role of the AuditCommittee until the 7 December 2000.

Audit Committee MembersMs. Mary Bergin (Chairman)Mr. Séan FitzPatrickMr. Cyril Forbes

This committee operates under formal terms ofreference, approved by the Executive Board on the7 December 2000, and is expected to meet asappropriate during the year. It reviews the annualfinancial statements, accounting policies togetherwith any proposed changes in these policies,compliance with accounting standards, theaccounting treatment of major transactions andthe appointment and fees of the external auditors.The external auditors meet with the committee toplan for and then review the results of the annualaudit of the Authority’s financial statements. Thecommittee may review any matters relating to theinternal control systems and the duties of theinternal auditor. It reviews the statement oninternal control systems, internal audit programand considers the major findings of internalinvestigations. The internal audit function, which isoutsourced, reports directly to the AuditCommittee.

Risk Committee MembersMr. Cyril Forbes (Chairman)Ms. Mary BerginMr. Séan FitzPatrickMr. Peter CoyneMs. Grainne HollywoodMr. Martin O’Sullivan

This committee operates under formal terms ofreference, approved by the Executive Board on the7 December 2000, and is expected to meet asappropriate during the year. It reviews theAuthority’s risk management strategy andevaluates the impact of perceived operationalexposures faced by the Authority.

Remuneration Committee MembersMr. Lar Bradshaw (Chairman)Ms. Joan O’ConnorMr. Séan FitzPatrick

The purpose of the Remuneration Committee is toreview the performance and remuneration of theChief Executive Officer and to makerecommendations to the Minister for theEnvironment and Local Government with regardsto his remuneration.

Directors remunerationThe members of the Executive Board are paidsuch remuneration as the Minister for the

Environment and Local Government, with theconsent of the Minister for Finance, determines.

Relations with shareholdersThe Executive Board and management maintainan ongoing dialogue with the Authority’sshareholders on strategic issues. Under theDublin Docklands Development Authority Act,1997 certain specified matters require theapproval of the Minister for the Environment andLocal Government and/or the Minister forFinance in respect of which ongoingcommunication with the Ministers is maintained.

Internal control and risk managementPrinciple D2 of the Combined Code1 states that"the Board should maintain a sound system ofinternal control to safeguard shareholders’investment and the company’s assets".

The members of the Executive Board withinthe Authority have progressed considerably withthe implementation of the recommendations ofthe Turnbull2 Working Group which was set upto provide guidance to assist listed companiesin implementing the Combined Code provisionsrelating to internal control.

The Executive Board has overallresponsibility of the system of internal controlwithin the authority, and for reviewing itseffectiveness whilst the role of management isto implement Executive Board policies on riskand control. The system of internal control isdesigned to manage rather than eliminate therisk of failure to the achievement of the businessobjectives. In pursuing these objectives,internal controls can only provide reasonableand not absolute assurance against materialmisstatement or loss.

There is a continuous process foridentifying, evaluating and managing thesignificant risks faced by the Authority whichhas been in place from March 2000, and up tothe date of approval of the Annual Report andAccounts. This process is regularly reviewed bythe Executive Board. In December 2000 asnoted above a risk sub-committee was formedwith a specific brief to oversee the riskmanagement process within the Authority.

There is an embedded culture of opennessof communication between management andthe Executive Board on matters relating to riskand control.

Report of the Executive Board (continued)Report of the Executive Board

1 Combined Code: the principles of good governance and code of best practice prepared by the committee on Corporate Governance,drafted by Sir Ronald Hampel, published in June 1998 and appended to, but not forming part of, the Listing Rules of the London StockExchange.2 Turnbull: A document entitled “Internal Control: Guidance for Directors on the Combined Code” was published in September 1999 by theInternal Control working party of the Institute of Chartered Accountants in England and Wales.

2726

The processes used by the Executive Board toreview the effectiveness of the system ofinternal control include the following:

■ During the year the Audit Committee (formerlythe Finance Committee), at its quarterly meetings:– considers reports from management,

internal and external audit on the system ofinternal control and any material controlweaknesses,

– discusses with management the actionstaken on problem areas identified byExecutive Board members or in theinternal/external audit reports,

– reviews the Risk Register originallydeveloped in March 2000 and updatedregularly since.

■ The Risk Committee reviews the effectivenessof the risk management process andsignificant risk issues are referred to theExecutive Board for consideration.

■ Management is charged with the ongoingresponsibility for identifying risk facing thebusiness and for putting in place proceduresto mitigate and monitor risks.

■ Major commercial, technological and financialrisks are formally assessed during the annuallong-term business planning process aroundmid-year. These plans and the attendant riskare reviewed by the Executive Board.

■ Large capital projects and acquisitions requireFinance Committee and Executive Boardapproval.

■ In March 2000, functional areas formallyreviewed all of their business risks andmitigating controls. This process will berepeated shortly and at each year end, andeach functional area will prepare statementswhich describe the extent of their compliancewith control objectives. These statements areapproved by the Chief Executive. Anysignificant matters arising from this review areformally reported to the Executive Board. Therisk and control identification and certificationprocess is monitored and periodically reviewedby the Authority’s Finance Director.

■ Throughout the process, account is taken ofthe progress towards the achievement of theobjectives laid down for the Authority in theMaster Plan, issued in 1997.

■ The Authority has set in place a processwhereby regular reports will be presented tothe Executive Board by external consultants,covering areas of particular importance to theAuthority such as property and taxation.

■ The Executive Board has established a strong

control framework within which the Authorityoperates. This contains the following keyelements:

– organisational structure with clearly definedlines of responsibility, delegation of authorityand reporting requirement,

– defined expenditure authorisation levels,– reviews covering all aspects of each functional

area are conducted by executive managementon a regular basis throughout the year,

– comprehensive system of financial reporting.The annual budget and long-term plan for eachfunctional area are reviewed in detail andapproved by the Chief Executive and theExecutive Board. Monthly actual results arereported against budget and prior year, and theforecast for the year is revised where necessary.Any significant changes and adverse variancesare questioned by the Executive Board andremedial action is taken where appropriate.Cashflow projections are formally presented tothe Finance Committee on a quarterly basis.

The Executive Board is confident that, whereas theformal risk identification process began only inMarch 2000, the system is now firmly embedded inthe process of management of the Authority, andrisks are being managed in a proactive manner.

Compliance statementThe members of the Executive Board are pleasedto report that the Authority has complied with theCombined Code during the year to 31 December2000, except for the following matters:

Senior independent non-executive directorThe Executive Board comprises a non-executiveChairman and seven non-executive directors all ofwhom are considered to be independent. TheExecutive Board at its meeting in March 2000agreed to the appointment of a senior independentnon-executive director and subsequently, with theagreement of the Board, the appointment of Mr.John Egan was confirmed.

Nominations Committee and procedures forelection and re-electionThe members of the Executive Board are appointedby the Minister for the Environment and LocalGovernment and hold office for such term as theMinister specifies when making the appointmentbut not for a period exceeding five years.

Directors’ remunerationThe Minister for the Environment and LocalGovernment determines the level of remunerationfor the Executive Board. Such remuneration is not

linked to performance and is disclosed collectivelyfor all non-executive directors as fees in note 5 tothe financial statements.

Audit committeeThe Finance Committee, as described on page24, carried out the role of an Audit Committeeuntil the 7 December 2000 when an AuditCommittee was appointed.

Going concernAfter making enquiries, the members of theExecutive Board have a reasonable expectationthat the Authority has adequate resources tocontinue in operation for the foreseeable future.For this reason, they continue to adopt the goingconcern basis in preparing the financialstatements.

Post balance sheet eventsNo significant events have taken place since theyear end that would result in adjustment to thefinancial statements or inclusion of a note thereto.

Electoral Act, 1997The Authority made no political donations duringthe year.

Prompt Payment of Accounts Act, 1997The Authority’s policy is to comply with therequirements of the Prompt Payment of AccountsAct 1997. The Authority’s standard terms of credittaken, unless otherwise specified in contractualarrangements are 30 days from the receipt ofinvoice. A total of 10 payments to the value ofIR£274,723 were late by an average of 14 days.These payments constituted 0.5% by numberand 2.3% by value of all payments to suppliers forgoods and services during the year. Interest ofIR£717 has been paid in respect of the payments.

The Authority implemented software whichhighlighted both approved and unapprovedoverdue invoices greater than 45 days for thepurposes of complying with the PromptPayments Act.

We have been advised by our auditors thatthey are not currently in a position to review andreport on this statement as the profession isawaiting guidance from the Institute of CharteredAccountants in Ireland on the form of report to beissued by auditors.

Health and safety of employeesThe well being of the Authority’s employees issafeguarded through the strict adherence tohealth and safety standards. The Safety, Healthand Welfare at Work Act, 1989 imposes certain

requirements on employers and the Authority hastaken the necessary action to ensure compliancewith the Act, including the adoption of a safetystatement.

AuditorsIn accordance with Section 43(2) of the DublinDocklands Development Authority Act, 1997, theauditors, KPMG, Chartered Accountants, arewilling to continue in office.

On behalf of the Executive Board

Lar Bradshaw Séan FitzPatrickChairman of Director ofExecutive Board Executive Board

Report of the Executive Board (continued)Report of the Executive Board (continued)

2928

The Executive Board is required to prepare financialstatements for each financial year which give a trueand fair view of the state of affairs of the group andthe Authority and of the surplus or deficit of thegroup for that period. In preparing those financialstatements, the members of the Executive Boardare required to:

■ select suitable accounting policies and thenapply them consistently,

■ make judgements and estimates that arereasonable and prudent,

■ prepare the financial statements on a goingconcern basis unless it is inappropriate topresume that the Authority will continue inbusiness.

The Executive Board is responsible for keepingproper accounting records which disclose withreasonable accuracy at any time the financialposition of the Authority and which enables it toensure that the financial statements comply withthe Urban Renewal Act, 1986 and the DublinDocklands Development Authority Act, 1997. Ithas general responsibility for taking such steps asare reasonably open to it to safeguard the assets ofthe Authority and to prevent and detect fraud andother irregularities.

On behalf of the Executive Board

Lar Bradshaw Séan FitzPatrickChairman of Director ofExecutive Board Executive Board

We have audited the financial statements on pages30 to 43 which have been prepared under thehistorical cost convention and the accountingpolicies set out on pages 30 to 31.

Respective responsibilities of the ExecutiveBoard and auditorsThe members of the Executive Board areresponsible for preparing the annual report. Asdescribed on page 28, this includes responsibilityfor preparing the financial statements inaccordance with applicable Irish law andaccounting standards. Our responsibilities, asindependent auditors, are established in Ireland bystatute, the Auditing Practices Board and ourprofession’s ethical guidance.

We report to you our opinion as to whether thefinancial statements give a true and fair view andare properly prepared in accordance with the UrbanRenewal Act, 1986 and the Dublin DocklandsDevelopment Authority Act, 1997. We statewhether we have obtained all the information andexplanations we require for our audit, whether theAuthority’s balance sheet is in agreement with thebooks of account and report to you our opinion asto whether:

■ the Authority has kept proper books of account,■ the Report of the Executive Board is consistent

with the financial statements.

We also report to you if, in our opinion,information specified by law regarding Directors’remuneration and transactions with the Authority isnot disclosed.

We review, at the request of the members of theExecutive Board, whether the voluntary statementon pages 24 to 27 reflects the Authority’scompliance with the seven provisions of theCombined Code that the Irish Stock Exchangespecifies for review by auditors, and we report if itdoes not. We are not required to consider whetherthe Executive Board’s statement on internal controlcovers all risks and controls, or form an opinion onthe effectiveness of the Authority’s corporategovernance procedures or its risk and controlprocedures.

We read the other information contained in theannual report, including the corporate governancestatement, and consider whether it is consistentwith the audited financial statements. We considerthe implications for our report if we become awareof any apparent misstatements or materialinconsistencies with the financial statements.

Basis of audit opinionWe conducted our audit in accordance with

Auditing Standards issued by the AuditingPractices Board. An audit includes examination, ona test basis, of evidence relevant to the amountsand disclosures in the financial statements. It alsoincludes an assessment of the significant estimatesand judgements made by the members of theExecutive Board in the preparation of the financialstatements, and of whether the accounting policiesare appropriate to the Authority's circumstances,consistently applied and adequately disclosed.

We planned and performed our audit so as toobtain all the information and explanations whichwe considered necessary in order to provide uswith sufficient evidence to give reasonableassurance that the financial statements are freefrom material misstatement, whether caused byfraud or other irregularity or error. In forming ouropinion we also evaluated the overall adequacy ofthe presentation of information in the financialstatements.

OpinionIn our opinion, the financial statements give a trueand fair view of the state of affairs of the group andthe Authority as at 31 December 2000 and of thesurplus of the group for the year then ended andhave been properly prepared in accordance withthe Urban Renewal Act, 1986 and the DublinDocklands Development Authority Act, 1997.

We have obtained all the information andexplanations we considered necessary for thepurposes of our audit. In our opinion, proper booksof account have been kept by the Authority. Thebalance sheet of the Authority is in agreement withthe books of account.

In our opinion, the information given in thereport of the Executive Board on pages 24 to 27 isconsistent with the financial statements.

Chartered AccountantsRegistered Auditors 15 March 2001

Auditors' Report to the Minister for the Environmentand Local Government

Statement of Responsibilities of the Executive Board

3130

The following accounting policies have beenapplied consistently in dealing with items which areconsidered material in relation to the group’sfinancial statements.

Basis of accountingThe financial statements are prepared inaccordance with generally accepted accountingprinciples under the historical cost convention,and comply with financial reporting standards ofthe Accounting Standards Board, aspromulgated by The Institute of CharteredAccountants in Ireland.

Basis of consolidationThe consolidated financial statements for the yearto 31 December 2000 include the results of theAuthority and its subsidiary undertakings for thatperiod. All significant inter-company profits,transactions and account balances have beeneliminated.

Income recognitionA surplus on disposal of development assets,where it can be determined with reasonablecertainty, is recognised on sale. Where licences orarrangements to develop are granted, the surpluson sale is recognised on a percentage completionbasis or as otherwise determined under the termsof the licence agreement. Provision is made for anylosses which may occur on subsequent disposalsunder the terms of that agreement.

For the purpose of these financial statements"sale" includes the granting or assignment of alease that transfers substantially all the risks andrewards of ownership to the lessee.

Other amounts receivable from licensees, suchas contributions towards the Authority’s runningcosts, are credited to the income and expenditureaccount in the period to which they relate.

Development assetsDevelopment assets consist of land and buildingsacquired by the Authority for the purpose ofsecuring the redevelopment of the DublinDocklands Area.

Development assets are included in the balancesheet at the lower of cost and net realisable value.Net realisable value is determined by reference tothe estimated value of development assets giventhe Authority’s intentions for the ultimate use of theland. Cost comprises purchase cost, demolition,site preparation, design fees, bank interest andother related costs.

Development assets on which development bycontract with a third party has commenced aretransferred to current assets.

Tangible fixed assets and depreciationTangible fixed assets are stated at cost lessaccumulated depreciation. No depreciation isprovided on land.

The charge for deprecation is calculated towrite down other tangible fixed assets to theirestimated residual values by equal annualinstallments over their expected useful lives whichare as follows:

Buildings 50 yearsOffice fixtures and fittings 5 yearsOffice equipment 3 yearsMotor vehicles 4 years

Accrued incomeRevenue earned, which has not yet been billed tocustomers, is recorded as accrued income where acontractual obligation exists on the part of acustomer to pay a specified sum to the Authorityand the Authority has discharged its commitmentsas set out in the contract.

Deferred incomeUnearned revenue which has been billed tocustomers is excluded from turnover and recordedas deferred income.

Financial assetsInvestments in subsidiary undertakings are statedat cost less any provision required for impairment invalue.

Foreign currencyForeign currency denominated transactions aretranslated into Irish pounds at exchange ratesapplying at the date of the transactions or at acontracted rate. Exchange gains or losses arisingare dealt with in the income and expenditureaccount.

Monetary assets and liabilities denominated inforeign currencies are retranslated at the balancesheet date using exchange rates applying at thatdate or at a contracted rate. Exchange gains orlosses arising on retranslation are also dealt with inthe income and expenditure account.

Pension commitmentsThe Authority’s pension commitments are operatedunder the terms of the Dublin DocklandsDevelopment Authority Superannuation Scheme2000 and the Dublin Docklands DevelopmentAuthority Spouses and Children’s ContributoryPension Scheme 2000 ("the pension schemes").

The pension schemes are unfunded andpayment of pension obligations by the Authorityonly fall due on the retirement of pensionable

employees. However, contributions are charged tothe income and expenditure account so as tospread the pension cost over the service lives of thepensionable employees.

Liquid resourcesLiquid resources represent commercial paper withmaturities between 1 and 60 days. Suchcommercial paper is readily convertible into knownamounts of cash.

Euro The financial statements, presented in Irish poundsas of and for the year ended 31 December 2000are also expressed in Euro, solely for informationpurposes, at the rate of Euro 1 = IR£0.787564, theirrevocably fixed conversion rate set on 1 January1999.

Statement of Accounting Policies (continued)Statement of Accounting Policies

3332

Note 2000 2000 1999g IR£ IR£

Turnover - continuing operations 2 29,324,010 23,094,535 30,082,046Cost of sales 3 (1,725,099) (1,358,626) (6,160,479)

Operating income - continuing operations 27,598,911 21,735,909 23,921,567Other income 4 115,467 90,938 270,220

27,714,378 21,826,847 24,191,787

Operating expensesRemuneration and allowances 5 (1,200,311) (945,322) (852,909)Consultancy fees (380,481) (299,653) (532,817)Marketing, promotion and publicity (527,080) (415,109) (351,178)Area regeneration 6 (3,077,482) (2,423,714) (7,409,922)Other expenses 7 (781,962) (615,845) (517,182)

(5,967,316) (4,699,643) (9,664,008)

Operating surplus - continuing operations 21,747,062 17,127,204 14,527,779

Interest receivable on commercial paper 2,670,230 2,102,977 872,757

Surplus for year 24,417,292 19,230,181 15,400,536

Opening surplus 78,028,522 61,452,455 46,051,919

Closing surplus 102,445,814 80,682,636 61,452,455

Lar Bradshaw Séan FitzPatrickChairman of Executive Board Director of Executive Board

Note 2000 2000 1999g IR£ IR£

Fixed assets

Tangible assets 9 1,056,502 832,063 823,096Development assets 10 33,110,721 26,076,812 21,274,276

34,167,223 26,908,875 22,097,372

Current assetsDevelopment assets 10 1,026,611 808,522 3,212,843Debtors 11 6,176,684 4,864,534 26,304,415Cash in hand and at bank 71,195,721 56,071,187 25,151,236

78,399,016 61,744,243 54,668,494

Creditors: amounts falling due within one year 12 (6,965,125) (5,485,482) (3,754,307)

Net current assets 71,433,891 56,258,761 50,914,187

Provisions for liabilities and charges 13 (3,155,299) (2,485,000) (11,559,104)

Net assets 102,445,815 80,682,636 61,452,455

Accumulated surplus 102,445,815 80,682,636 61,452,455


Consolidated Balance SheetAt 31 December 2000

Consolidated Income and Expenditure Accountfor the year ended 31 December 2000

3534

Note 2000 2000 1999g IR£ IR£

Net cash inflow from operating activities 14 43,417,519 34,194,075 11,453,543

Returns on investment and servicing of financeInterest received 2,616,327 2,060,525 858,072

Net cash inflow from returns on investment and servicing of finance 2,616,327 2,060,525 858,072

Capital expenditureFixed development assets acquired (6,521,657) (5,136,222) (21,833,719)Tangible fixed assets acquired (242,387) (190,895) (322,419)Disposal of tangible fixed assets - - 17,899

Net cash outflow from capital expenditure (6,764,044) (5,327,117) (22,138,239)

Cash inflow/(outflow) before managementof liquid resources 39,269,802 30,927,483 (9,826,624)

Management of liquid resourcesPurchase of commercial paper (55,318,219) (43,566,638) (42,848,476)Disposal of commercial paper 17,049,408 13,427,500 51,923,379

15 (38,268,811) (30,139,138) 9,074,903

Increase /(Decrease) in cash in the year 15 1,000,991 788,345 (751,721)

Note 2000 2000 1999g IR£ IR£

Fixed assets

Investment in subsidiary undertakings 8 5 4 864,531Tangible assets 9 1,056,502 832,063 823,096Development assets 10 33,110,721 26,076,812 20,409,749

34,167,228 26,908,879 22,097,376

Current assetsDevelopment assets 10 1,026,611 808,522 3,212,843Debtors 11 6,176,684 4,864,534 26,304,415Cash in hand and at bank 71,195,721 56,071,187 25,151,236

78,399,016 61,744,243 54,668,494

Creditors: amounts falling due within one year 12 (6,965,130) (5,485,486) (3,754,311)

Net current assets 71,433,886 56,258,757 50,914,183

Provisions for liabilities and charges 13 (3,155,299) (2,485,000) (11,559,104)

Net assets 102,445,815 80,682,636 61,452,455

Accumulated surplus 102,445,815 80,682,636 61,452,455


Authority Balance Sheet At 31 December 2000

Consolidated Cash Flow Statementfor the year ended 31 December 2000

3736

1 Dublin Docklands Development Authority Act, 1997

By order of the Minister for the Environment and Local Government under Section 56 of the DublinDocklands Development Authority Act, 1997 on 1 May 1997, the Customs House Docks DevelopmentAuthority was dissolved.

Under Section 14(1) of the said Act on 1 May 1997, a body to be known as the Dublin DocklandsDevelopment Authority was established to perform the functions assigned to it under this Act.

Under the terms of the Act, all land and property, rights and liabilities of the Customs House DocksDevelopment Authority on 1 May 1997 were vested in the Dublin Docklands Development Authority.

The value of the assets and liabilities taken over were included as follows:

Tangible fixed assets: Net book value, being original cost less depreciation to 1 May 1997 inaccordance with the accounting policy set out on page 30.Development assets: Included at the lower of cost and net realisable value at 1 May 1997 inaccordance with the accounting policy set out on page 30.Current assets and liabilities: Actual amounts of assets and liabilities at 1 May 1997.

2 Turnover - continuing operations2000 1999

IR£ IR£

Income earned on disposals of development assets 23,094,535 30,082,046

3 Cost of sales 2000 1999

IR£ IR£

Cost of development assets 5,600,626 4,722,522Movement in provisions (4,242,000) 1,437,957

1,358,626 6,160,479

4 Other income2000 1999

IR£ IR£

Rent receivable 75,785 132,511Other income 15,153 137,709

90,938 270,220

Notesforming part of the financial statements

5 Staff numbers and costs

The average number of persons employed by the Authority during the period was 15 (1999:12).The aggregate payroll costs of these persons were as follows:

2000 1999IR£ IR£

Wages and salaries 852,565 639,016Social welfare costs 40,083 23,893Other pension costs 52,674 190,000

945,322 852,909

Directors’ remuneration included aboveFees 30,000 30,000

6 Area Regeneration

Costs for area regeneration amount to IR£2,423,714 for 2000. This expenditure relates to programmesto enhance the Campshires and other public areas coupled with the provision of a variety of socialsupport programmes for the benefit of the local community.

In 1999 total similar costs amounted to IR£1,395,170. An additional charge in 1999 of IR£6,014,752related to expensing of land and building costs previously capitalised.

7 Other expenses2000 1999

IR£ IR£

Travel and subsistence 73,591 37,387Electricity, postage and telephone charges 63,748 61,079Insurance 7,888 15,571Books and periodicals 10,386 11,285Printing and stationery 22,742 24,884Audit fee 10,000 7,000Internal audit services 30,000 -Accounting costs - 3,000Office cleaning, repairs and maintenance 48,264 81,970Security 57,740 51,250Sundry expenses 47,162 49,330Training 45,995 7,664Rent and rates 12,239 12,292Local employment initiative 4,157 4,950Depreciation 181,933 149,520

615,845 517,182


3938

8 Investment in subsidiary undertakings2000 1999

IR£ IR£

AuthorityNorth Wall Quay/Mayor Street Management Limited 2 2Kings Excise Inn Mayor Street Limited 2 864,529

4 864,531

The Authority holds 100% of the issued share capital (200 ordinary shares of 1p) of North WallQuay/Mayor Street Management Limited. The principal activity of this company is to maintain the publicareas in, about or relating to the development of land as defined in the Second Schedule of the DublinDocklands Development Authority Act, 2000. The company had not commenced trading in the year to31 December 2000. The registered office of the company is Visitor Centre, Custom House Quay, Dublin1.

The Authority also holds 100% of the issued share capital (200 ordinary shares of 1p) of Kings Excise InnMayor Street Limited. The principal activity of the company was the operation of taverns, public housesand similar establishments. The registered office of the company is Visitor Centre, Custom House Quay,Dublin 1. In 2000, the company transferred its asset to the Authority where it was sold.

9 Tangible fixed assets Office fixtures

Land and fittings andbuildings equipment Total

Group and Authority IR£ IR£ IR£

CostAt beginning of year 490,875 544,472 1,035,347Additions in year - 190,895 190,895

At 31 December 2000 490,875 735,367 1,226,242

Accumulated depreciationAt beginning of year 9,638 202,612 212,250Charge for year 3,616 178,317 181,933

At 31 December 2000 13,254 380,929 394,183

Net book valueAt 31 December 2000 477,621 354,438 832,059

At 31 December 1999 481,237 341,860 823,096

Tangible fixed assets are depreciated in accordance with the accounting policy set out on page 30.


10 Development assets2000 1999

Group Authority Group AuthorityIR£ IR£ IR£ IR£

Fixed development assetsOpening balance 21,274,276 20,409,749 23,769,602 23,769,602Additions in year 6,063,840 6,063,840 2,616,674 1,752,147Transferred to Income and Expenditure Account (396,777) (396,777) (5,112,000) (5,112,000)Transferred to current assets (864,527) - - -

26,076,812 26,076,812 21,274,276 20,409,749

Current development assetsOpening balance 3,212,843 3,212,843 6,949,065 6,949,065Additions in year 1,139,288 1,139,288 217,307 217,307Disposals during year (4,408,136) (4,408,136) (3,953,529) (3,953,529)Transferred from subsidiary 864,527 864,527 - -

808,522 808,522 3,212,843 3,212,843

Development assets include land which has yet to be sold and which is occupied by the developer undera licence agreement.

11 Debtors2000 1999


Trade debtors 1,496,353 1,496,353 2,103,090 2,103,090Accrued income 3,255,537 3,255,537 23,489,099 23,489,099Prepayments 11,485 11,485 23,167 23,167Interest receivable 101,159 101,159 58,707 58,707VAT receivable - - 630,352 630,352

4,864,534 4,864,534 26,304,415 26,304,415

All amounts fall due within one year.


4140

12 Creditors: amounts falling due within one year2000 1999


Creditors and accrued expenses 3,314,084 3,314,084 2,513,118 2,513,118Deferred income 260,000 260,000 250,000 250,000Bank overdraft - - 7,532 7,532Capital creditors 1,911,275 1,911,275 983,657 983,657VAT 123 123 - -Amounts payable to subsidiary undertakings - 4 - 4

5,485,482 5,485,486 3,754,307 3,754,311

13 Provisions for liabilities and charges2000 1999

Group and Authority IR£ IR£

Pensions and similar obligations 2,485,000 2,473,104Provision for liabilities under re-negotiated contracts - 7,586,000Other provisions - 1,500,000

2,485,000 11,559,104

Pensions and similar obligationsAt beginning of year 2,473,104 2,307,681Charged during year 52,674 190,000Payments to pensioner (40,778) (24,577)

At end of year 2,485,000 2,473,104

Provision for liabilities under re-negotiated contractsAt beginning of year 7,586,000 7,648,043Utilised during year (4,844,000) (62,043)Amounts released unused (Note 3) (2,742,000) -

At end of year - 7,586,000

The withdrawal of certain tax reliefs in the Custom House Docks Area has resulted in the crystallisation ofliabilities under the terms of contracts previously entered into by the Authority for which provision wasmade in 1999. A portion of these provision was not required, and are therefore released unused to costof sales.


13 Provisions for liabilities and charges (continued)Other provisions

2000 1999IR£ IR£

At beginning of year 1,500,000 -(Credited)/charged during the year - 1,500,000Amounts released unused (Note 3) (1,500,000) -

At end of year - 1,500,000

Provision had been made in 1999 for certain claims arising from past events and for which the Authoritywould incur costs. However, these claims have been resolved successfully and these provisions releasedunused to cost of sales.

14 Reconciliation of operating surplus to net cash inflow from operating activities2000 1999

IR£ IR£

Operating surplus 17,127,204 14,527,779Depreciation charge 181,933 149,520Decrease/(increase) in debtors 1,248,771 12,346,247Increase/(decrease) in creditors 811,089 (12,098,104)Decrease in development assets 3,665,620 8,848,222Increase in pension provision 11,896 165,423Movement in other provisions (9,086,000) 1,437,957Net movement in accrued income 20,233,562 (13,923,501)

Net cash inflow from operating activities 34,194,075 11,453,543

15 Reconciliation of net cash flow to movement in net funds2000 1999

IR£ IR£ IR£ IR£

(Decrease)/increase in cash for the year 788,345 (751,721)(Decrease)/increase in liquid resources 30,139,138 (9,074,903)

Change in net funds 30,927,483 (9,826,624)

Net funds at beginning of year 25,143,704 34,970,328

Net funds at end of year 56,071,187 25,143,704


4342

16 Analysis of net fundsAt 31 Cash At 31

Dec 1999 flows Dec 2000IR£ IR£ IR£

Cash at bank and on hand 308 780,813 781,121Overdraft (7,532) 7,532 -

Net cash (7,224) 788,345 781,121

Commercial paper 25,150,928 30,139,138 55,290,066

Net funds 25,143,704 30,927,483 56,071,187

17 Capital commitments

The Minister for the Environment and Local Government in exercise of the powers conferred on him bySection 2 of the Urban Renewal (Amendment) Act, 1987, has on three occasions, by Ministerial Order,extended the Customs House Docks Area. Under the provisions of Section 9 of the Urban Renewal Act,1986 it is the Authority’s responsibility to redevelop or secure the redevelopment of lands located in theCustoms House Docks Area.

In compliance with this responsibility the Authority has set about the acquisition of some of theselands and a number of purchase contracts are currently under negotiation.

Future capital commitments approved by the directors but not provided for in the financial statementsare as follows:

2000 1999IR£ IR£

Contracted 19,079,000 15,045,000Authorised but not contracted 19,038,000 21,445,000

38,117,000 36,490,000

18 Related party disclosures

On 1 May 1997 (vesting day) the Authority formally became a semi-state company under the control ofthe Department of the Environment and Local Government acting on behalf of the Minister for theEnvironment and Local Government.

In common with many other Government bodies, the Dublin Docklands Development Authority dealsin the normal course of business with other Government bodies.

19 Taxation

Under the provisions of Section 42 of the Finance Act, 1988 the Authority is exempt from Corporation Tax.


20 Pension obligations

The Authority operates two unfunded defined benefit pension schemes Dublin Docklands DevelopmentAuthority Superannuation Scheme, 2000 and Dublin Docklands Development Authority Spouses andChildren’s Pension Scheme, 2000.

The actuarial valuation of the unfunded pension commitments of the Authority at 31 December 2000identified the value of the liabilities taking into account the pensionable service completed by eachmember up to the valuation date. For the purposes of the valuation it was assumed that the rate ofinvestment return would exceed the rate of increase in pensionable remuneration by 11/2% per annum andthat the normal retirement age would be 60.

The actuarial report is available for inspection by members of the scheme and their dependents butnot by the general public.

21 Euro

The members of the Executive Board are of the opinion that the Euro will not have a significant impact onthe trading activities of the Authority. Systems upgrades to achieve Year 2000 compliance have alsomade them Euro compatible. The Authority will adopt the Euro as its reporting currency with effect from1 January 2001.

22 Approval of financial statements

The financial statements were approved by the members of the Executive Board on 8 March 2001.


4544

Appendix AConsultants and Advisers 2000

Appendix BAttendance at 2000 Council Meetings Attendance at 2000 Executive Board Meetings

Aon Beech HillPaul ArnoldBell AdvertisingBoyle Design GroupBrady Shipman MartinBrindley AdvertisingBruce Shaw PartnershipCarlbro IrelandUna CarmodyCawley & CompanyCoonan CawleyArthur CoxMargaret CoyleK.T. Cullen & Co. LtdDelap and WallerThe Design HouseDimension Marketing LtdErnst & YoungESRIETI Ireland LimitedFearon O’Neill RooneyWilliam FryBill Glynn & AssociatesA&L GoodbodyGunne CommercialHamilton Osborne KingHarrington BannonHealy Kelly & PartnersEamon Hendrick & AssociatesHolohan LeisureHooper and Company

HuguenotIrish Public Bodies Mutual Insurances LtdJones Lang LaSalleKPMG Chartered AccountantsKSN Project Management LimitedLisneyMcCabe Delaney and AssociatesMcCann FitzgeraldJohn A McCarthyDeclan McGrathI Magahy & AssociatesMalone O’ReganManley CommunicationsThomas MorganMurray Consultants LtdNicholas O’Dwyer & PartnersO’Hare & AssociatesHugh O’KeeffeOve Arup & PartnersParkman Environmental LimitedPatterson Kempster & ShortallRealforth Computers LtdGarrett SimonsTASC Ltd.Tourism and Leisure PartnersUrban InitiativesUrban ProjectsWebtrade LimitedWhite & AssociatesX Communications

The council met 7 times during the period of the The Executive Board met 14 times during thereport period of the report

Members Meetings Attended Director Meetings AttendedLar Bradshaw (Chairman) 6 Lar Bradshaw (Chairman) 13Betty Ashe 6 Mary Bergin 11Bertie Barry 2 Professor P.J. Drudy 11Anne Butler 5 John Egan 13Dr. Ray Byrne (resigned August 2000) - Séan FitzPatrick 9Sean Carey 4 Cyril Forbes 11Ann Carroll 6 Mary Moylan (appointed July 2000) 5Enda Connellan 2 Joan O’Connor 12Cllr. Ciaran Cuffe 5 John O’Connor (resigned May 2000) 5Paul Dolan 4Cllr. Senator Joe Doyle 3Gerry Fay 7Mary Finan 5James J. Gahan (appointed December 2000) -John Henry 1Cllr. Kevin Humphries 7Philip Jones 3Cllr. Garry Keegan (appointed December 2000) -Cllr. Senator Tony Kett 2Seanie Lambe 6Grainne McBride 3Pat Magner 5Brendan Manning 3John Martin 5Finian Matthews 6Cllr. Mary Mooney (resigned August 2000) 1Charlie Murphy 7Dolores Wilson 7

The Authority uses the services of consultants and advisers as necessary to assist in the discharge of itsfunctions. As provided for in the Dublin Docklands Development Authority Act, the Authority maintains aregister of persons who have notified the Authority of their availability and qualification to provide particularservices. The Authority has regard to this list when engaging consultants to advisers. The followingprovided services to the Authority during the period under review:

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