Money intended for Ebrington may have been spent elsewhere by NI Executive

It’s emerged that money earmarked for the redevelopment of Ebrington barracks in Derry may have been spent elsewhere.
The development of Ebrington is a flagship project in the city, and the site will host several UK City of Culture events in 2013.
According to the BBC, money from the sale of Magherafelt Barracks should have gone to Derry’s regeneration company, Ilex, but instead went to the Executive.
The Magherafelt barracks was one of six sites transferred to the Executive for free in 2003, on the basis that any money raised from their sale would be used for peace projects.
However, the Northern Ireland Audit Office says it’s unclear if this was achieved.
It also said it has concerns that Stormont did not get the best value from the sale of a former army barracks in Belfast’s Malone Road.
The Malone Road site was bought for £3.8m, less than the initial valuation, and the developer who purchased it sold the site on the same day it was bought.
The office of the First and Deputy First Minister and the Department of Finance disagree that they could have got more for that site.