Residents of Longboat Quay will today be presented with a final offer from the Dublin Docklands Development Authority of funding for fire safety works needed at the apartment complex.
Dublin Fire Brigade last month issued a fire safety notice ordering that work, expected to cost up to €4 million, be completed at the 299 apartments built in 2006 by developer Bernard McNamara. Failure to comply with the fire notice could result in evacuation.
The docklands authority and Nama, which is funding the receiver to Mr McNamara's company Gendsong, made an offer of €2.75 million towards the work, but this includes almost €1.25 million already spent by the authority on the installation of fire alarms. Residents said the offer was "wholly unacceptable" and insufficient to allow work to begin.
The authority owns the common areas in Longboat Quay and also has an interest in 37 apartments bought under the affordable housing scheme. The receiver has control of 18 apartments in the complex.
Legal proceedings
The Longboat Quay Management Company last month initiated legal proceedings against the authority over liability for funding fire safety works.The proceedings in the Commercial Court were adjourned just over a week ago with the agreement of both parties to facilitate efforts to resolve matters.
Council chief executive Owen Keegan, also the chairman of the board of authority, last night told councillors a "substantially increased offer" would be made by the authority and the receiver to the management company which he hoped would be presented to an extraordinary general meeting of residents for acceptance.
“This is the final offer that will be made by the DDDA and the receiver . . . If it is not approved, that is it. But I hope good sense will prevail,” Mr Keegan said.
He would not disclose details of the offer but said it would not cover the full amount and residents would “have to come up with some money”. However, he said that amount would be “very, very modest in comparison with the value of the apartments”. He said “specific account of the position” of apartment owners who bought under the affordable housing scheme would be reflected in the offer. “Affordable housing purchasers will be dealt with within our renewed offer.”
Meanwhile, councillors have blocked the sale of the commercial assets of Temple Bar Cultural Trust, the State company disbanded last year following controversy over its governance.
Commercial properties
The council wanted to realise more than €10 million from the sale of 25 commercial properties which were owned by the trust before it was taken over by the local authority. Among the best known are the Gutter Bookshop on Pudding Row, the Queen of Tarts cafe on Cow’s Lane and designer Claire Garvey, also on Cow’s Lane.
Councillors last night agreed that no sale would proceed until an audit of cultural and commercial properties in Temple bar was conducted.
