Under the terms of the indemnity agreement between the State and the 18 religious congregations, there is a commitment by the congregations to transfer property to the State to the value of €36.54 million from the date the indemnity agreement which was signed on 5 June 2002.
Following the signing of the agreement, the congregations submitted a list of 45 properties for the State to consider. On consideration of these properties, officials at my Department informed CORI's legal representatives that the State was prepared in principle to accept 34 of the properties offered. These properties have been valued by the congregations at €22.6 million. Eight properties were rejected on the basis that no benefit to the State could be identified by acquiring a title while three properties are still under consideration.
In view of the fact that the State rejected eight of the original properties, the congregations submitted a list of additional properties for the State to consider in June 2003. One of the congregations was not in a position to offer an alternative property and it decided to offer a cash sum equivalent instead. The amount being paid in cash by this congregation is €4 million, €2 million of which has already been received while the further €2 million will be paid in early 2004. The receipt of these cash payments reduces the value of the property to be transferred from €36.54 million to €32.54 million.
Officials at my Department have considered the replacement properties offered and have informed CORI's legal representatives that the State was not in a position to benefit by acquiring a title to six of the properties concerned. The remaining six properties on this list are being considered by my Department and a decision will be conveyed to CORI's legal representatives in due course.
I share the Deputy's concern that the property aspect of the indemnity agreement should be concluded as soon as possible. The Deputy will acknowledge that much progress has been made on the properties to be transferred since the agreement was signed in June 2002. However, as negotiations are ongoing and as the issue is commercially sensitive I do not intend to give details regarding the identity of the properties at this stage. However, when agreement has been concluded on this schedule, a list of the properties concerned will be made available.
