Dáil Éireann Debate, Tuesday - 16 July 2013
254. Deputy Brian Stanley asked the Minister for Finance the position local authorities hold in order of priority as creditors when the National Asset Management Agency takes over unfinished housing developments that have outstanding development levies owed by them to the respective local authorities. [33806/13]
View answer255. Deputy Brian Stanley asked the Minister for Finance the names of companies that are now in the National Asset Management Agency which owe development levies to local authorities; and if he will outline, in tabular form, the amount owed by each company to each local authority. [33807/13]
View answerI propose to take Questions Nos. 254 and 255 together.
NAMA has acquired loans from the Participating Institutions that are secured, in the main, on unsold property at time of acquisition. I am advised by NAMA that, in respect of such unsold property, it requires its debtors and receivers to comply with all statutory obligations. NAMA advises that this includes the payment of development levies as they fall due, on foot of a valid planning permission, for development. NAMA further advises that it works closely with debtors and receivers to ensure that any such liabilities are appropriately addressed. NAMA’s role relates only to those properties that secure its acquired loans. It has no role in relation to other properties, including properties sold prior to its acquisition of loans from the Participating Institutions. The Deputy may also wish to refer to pages 36 and 37 of the Agency’s recently published Annual Report and Financial Statements for 2012, which include extensive information on NAMA’s approach to unfinished housing developments, including its requirement that debtors and receivers prepare, in line with best practice in this area, a Site Resolution Plan with input from stakeholders including residents, the local authority and the bond holder.
NAMA is prohibited under Sections 99 and 202 of the NAMA Act from disclosing confidential information, which is specifically defined to include information relating to its debtors and their properties. Accordingly, the provision of the type of information sought in the Deputy’s second question cannot be provided.
