Dáil Éireann Debate, Thursday - 27 May 2010
63 Deputy Joan Burton asked the Minister for Finance his views on recent reports that a significant amount of land owned by local authorities, and loans related to these lands, is being considered for transfer to the National Asset Management Agency; if any such transfer would necessitate amending legislation; and if he will make a statement on the matter. [22419/10]
View answerNAMA purchases eligible land and development loans and certain associated loans from participating institutions and manages these loans with the intention of generating the best possible return. NAMA does not directly purchase property or land. I am advised by NAMA that there are no local authority loans due for transfer to NAMA from a participating institution. Furthermore, there is no proposal to transfer lands or loans currently held by local authorities to the NAMA. The Department of the Environment, Heritage & Local Government has indicated their intention to work closely with NAMA in the interests of proper planning and to secure best use of public land.
