Oireachtas Joint and Select Committees
Wednesday, 24 October 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Role and Functions of NAMA: Discussion
5:30 pm
Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source
I refer to commercial properties and the fact that NAMA has taken on responsibility for the loans against them. These properties are lying vacant and being vandalised. For example, in Portarlington, there is a large factory which at one stage provided significant employment, but it lies vacant in a good location with security on it ceasing one year ago. It is being vandalised, but NAMA and, ultimately, the taxpayer have secured the loan on it. Nobody wants anything to be vandalised, particularly when it causes problems locally. What steps can the agency take to secure properties such as this and lease or sell them? Has there been engagement with IDA Ireland, Enterprise Ireland or anybody else who is interested in moving on to the properties? Nobody wants assets to deteriorate; therefore, they should be secured. NAMA is trying to protect its own interest in them and that of the taxpayer. What is being done to rent or sell them? What efforts are being made to move them on?
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