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1240/5(3950)
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY G.C.L. BAUDAINS OF ST. CLEMENT
ANSWER TO BE TABLED ON TUESDAY 17TH JUNE 2008
Question
- W ould the Minister advise whether the documents released byWEB to Memberson 5th June 2008were presented tohimbeforethe debate on the Esplanade Quarter Masterplanand,if not, howwashe able to satisfy himself regarding the financial aspects ofthedeal?
Answer
T h e documents presented to Members on 5th June 2008 were not presented to me in advance of the
debate ; however WEB did advise that appropriate due diligence had been undertaken to ensure the suitability of the proposed developer and that no issues were raised in the due diligence work that would reasonably prohibit the use of that developer.
In a d dition the Treasury reviewed the complete Heads of Terms agreement in respect of the Esplanade
Quarter Masterplan including all the financial aspects of the proposed deal and I received a detailed briefing, and assurances, from the Finance Director of the Waterfront Enterprise Board that all financial issues and risks had been thoroughly addressed
Question
- If the saiddocumentswere presented to the Minister, what other work didherequestbeundertaken to satisfy himself that all risks had been mitigated asfaraspossible?
Answer
S e e a bove. The said documents were not presented to me