Councillor abstains from vote on airport investment proposal

Independent Councillor Joe O’Riordan was the only member of Waterford’s special plenary council meeting to abstain from voting on the takeover of Waterford airport.

Barring Cllr. O’Riordan, the three resolutions allowing for the takeover of Waterford Airport by an anonymous investor passed unanimously.

Cllr. O’Riordan raised issue with the alleged investor’s “political ties.” 

The identity of the investor remains undisclosed, with Waterford City and County Council Chief Executive Sean McKeown signing an NDA with the prospector in negotiations.

Mason Hayes & Curran, the legal entity representing the investor, described the person as “a US national, with significant business interests and substantial means”.

During the council meeting, Cllr. O’Riordan referred to the investor as a “billionaire". 

While others expressed hesitance over the NDA and the investor’s anonymity, Cllr. O’Riordan was the only councillor in the chamber to not vote for the passage of three resolutions that would clear a path for the airport’s takeover.

Cllr O’Riordan caveated his objection by saying the proposal would “obviously” pass and that he wished the airport “all the very best.” 

“I wouldn't be entirely comfortable with dealing with him (the investor) and by voting for something that would transfer €2.3 million worth of land to him for €50,000,” Cllr. O’Riordan said.

Under the proposed plan, the investor would spend €30 million on the expansion of the airport to accommodate commercial flights. Under Sections 183 of the Local Government Act, 2001, and 206 of the Planning and Development Act, 2000, councils can sell land below market value provided the sale yields socio-economic prosperity.

Cllr O’Riordan said the rate reductions in the proposed plan were “particularly egregious.” Current rates are set at €76,000 and will be lowered to €10,000 if the deal goes through.

“All the benefits are for him…we were caught over a barrel,” Cllr. O’Riordan said.

“We felt that we had to support this motion today. I couldn't go against the motion out of respect for councillors in the city, who obviously, it’s very important to them, but I certainly wasn't going to support this."