The money was for Water services projects and debtors at the end of 2013.
Dublin City Sinn Féin Councillor Noeleen Reilly said there is still no date of payment.
She said: "Dublin City Council lost almost €2 billion worth of assets with the setting up of this super quango and now to find out that they are reneging on paying debts. It is just not acceptable.
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"Dublin City Council is struggling big time in terms of resources with the homeless and housing crisis.
"The council have been stripped of funds over the last few years because of the setting up of Irish water.
"The proceeds of the property tax which was meant for local services in 2014 were used to set up this company which has whole heartedly been rejected by the citizens of Dublin."
(CD/LM)
