______________________________________________
For Written Answer on : 23/11/2022
Question Number(s): 71 Question Reference(s): 58257/22
Department: Finance
Asked by: David Stanton T.D.
______________________________________________
QUESTION
To ask the Minister for Finance if NAMA has been given any role in making lands available to communities or to sporting organisations to facilitate the development of community and or sporting facilities; and if he will make a statement on the matter.
REPLY
In the context of its overriding commercial mandate, I can advise the Deputy that NAMA seeks to manage its secured property portfolio in a manner that complements the objectives of other public bodies. This includes facilitating the sale of properties for social purposes where commercially practical to do so.
NAMA works closely with Government departments, state agencies and local authorities to identify properties that may have a community, economic or social benefit and facilitates negotiations between its debtors and receivers and the public body, often providing them with right of first refusal in respect of the subject property. Properties are transacted at full market value as NAMA cannot compel a debtor or receiver to sell their property at a discount.
In addition to the 2,693 homes delivered for social housing, I am advised that NAMA has delivered approximately 80 properties to state bodies for civic purposes to date. This figure includes 18 sites for public amenities such as parks, sports clubs, community centres, and historic sites.
The live nature of NAMA’s portfolio means that identified properties cannot be retained for public bodies indefinitely and in certain cases are sold on by debtors and receivers in order to repay debt.