Dáil Éireann Debate, Tuesday - 15 January 2019
175. Deputy Jim O'Callaghan asked the Minister for Finance if a site (details supplied) in Dublin 8 can be used by NAMA to construct a significant amount of social and affordable housing; and if he will make a statement on the matter. [54234/18]
Amharc ar fhreagra177. Deputy Bríd Smith asked the Minister for Finance the status of a site (details supplied) in Dublin 8; if the site is controlled by NAMA; if its potential use by public agencies or Dublin City Council for social or affordable housing has been examined; and if his officials or other Departments have met or had meetings with the receivers of the site to discuss the future of same. [54428/18]
Amharc ar fhreagraI propose to take Questions Nos. 175 and 177 together.
I am advised by NAMA that it no longer has any involvement with the Player Wills site. The loans attaching to the site were fully repaid at par value by the borrower in late December 2018 and NAMA accordingly was obliged to release its legal charge over the site.
It is important to note that NAMA does not own or control property, rather NAMA owns loans for which the properties act as security. If a property owner repays the value of their loan, as occurred in this case, then NAMA no longer holds any security over the owner’s property. Thereafter, it is entirely a matter for the owner, in conjunction with the planning authorities, to determine how the property should be utilised.
NAMA was established as an independent commercial body and I do not have a role in its operations or decisions, or in relation to the properties securing its loans. In that respect, no official from my Department met with the former receiver of the Players Wills site in order to discuss the property.
