Ned O'Keeffe
Ceist:10 Mr. E. O'Keeffe asked the Minister for Enterprise and Employment if he will publish the consultancy report recommending the sale of the State's industrial land. [1564/96]
Written Answers. - State Property Portfolio.
At the time that the new agencies were brought into operation in January 1994, Forfás delegated specific functions to Forbairt and IDA Ireland under the 1993 Industrial Development Act, to enable them to undertake the responsibilities assigned to them in that Act. It retained a number of operational/executive functions (including the property function) on a temporary holding basis to allow consideration of how best they could be allocated between the executive agencies (Forbairt and IDA Ireland).
In 1995 Forfás completed a fundamental review of the operation and management of the property function and portfolio for industrial development purposes which was initiated in 1994 in consultation with Jones Lang Wootton and Indecon Economic Consultants. The review was undertaken as part of the responsibilities of Forfás for policy evaluation and advice and agency co-ordination.
The report makes specific recommendations on:
— The likely demand for industrial property for industrial promotion and development purposes.
— The relative balance that should be sought between private and public sector (including the development agencies, local authorities and community groups) provision in meeting market demands.
— The means by which greater private sector provision of property for industrial promotion and development purposes can be encouraged.
— The means by which the most effective management of the existing property portfolio held by Forfás (and other agencies) can be achieved in terms of financial, personnel and organisations resources.
— The evaluation of the financial and economic returns of the resources allocated to the property development and management functions.
— The appropriate accounting approach and methodologies in respect of the property function within the industrial development agencies.
— The approach that should be adopted with respect to sales, retention, refurbishment, rents and leasing of the existing property portfolio including the scope for securitisation.
— The most appropriate organisational location for the management and development of the State's property portfolio for industiral promotion purposes.
While it is not my intention to publish the entire report because of the commercially confidential nature of some of the contents, I have asked Forfás to publish its main conclusions.