Jackie Cahill
Question:801. Deputy Jackie Cahill asked the Minister for Housing, Local Government and Heritage the planned ownership of the Land Development Agency; and if he will make a statement on the matter. [20379/21]
View answerWednesday, 21 April 2021
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The Land Development Agency (LDA) was established on an interim basis in September 2018, by way of an Establishment Order made under the Local Government Services (Corporate Bodies) Act 1971, pending the enactment of primary legislation when it will be established as a commercial State agency.
As stated in the Programme for Government, legislation to establish the LDA on a statutory basis is being progressed as a matter of priority. The Land Development Agency Bill 2021 will focus on the establishment of the corporate form and financial structure of the Agency. The LDA Bill was recently published and has been debated at Second Stage in Dáil Éireann.
Once the primary legislation is in place, arrangements will be finalised for the capitalisation of the LDA with funding of up to €1.25 billion being provided from Ireland Strategic Investment Fund.
Under the LDA Bill, the initial shareholding in the LDA will be €100 million, with the Minister of Public Expenditure and Reform being the majority shareholder, holding shares with a value of €99 million, and the Minister for Housing being a minority shareholder, holding shares with a value of €1 million.