Jimmy Deenihan (Kerry North-West Limerick, Fine Gael)

It is appropriate for the Deputy to ask the question because I have been asking the same question myself recently. This is the next mechanism NAMA should put in place. It has acquired property and has gone through all the legal and logistical challenges up to now. Next, the conditions and procedures to encourage the type of project that could attract community involvement should be put in place. I am aware from my inquires to NAMA that it has not done this to date.

However, I am aware of several initiatives involving people who are interested in getting together as a community to do expressly what the Deputy is suggesting. I hope they can put together a package for community groups and that there will be a facility available to allow community groups to organise and get the resources together to acquire some of these properties, wherever they are in the country. Since the taxpayer owns them, there should be a public list of properties available from NAMA. This would be helpful and then people could decide what is appropriate for community involvement. That is the next stage. NAMA should consider the possibility of community involvement as well as waiting for investors to come in, as Deputy Wallace noted, to buy up the properties. NAMA should consider the community aspect as well.

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