Oireachtas Joint and Select Committees
Thursday, 13 July 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Overview of Operations and Functioning of NAMA: Discussion
9:30 am
Mr. Frank Daly:
We would have been doing an analysis of our capacity regarding the sites we had in terms of the position on planning and in terms of the debtors and the receivers controlling the sites and their capacity to deliver. We delivered somewhat more than the 4,500 but it was very much a stretched target. We could not have done any more than that. In the same way, we will deliver what we can in the period 2017 to 2020. We are somewhat constrained because we have to do a viability test before we engage in any funding of housing or anything. Again, it comes back to section 10. We cannot fund something that is not going to result in the best financial return for the State. We cannot fund houses if we do not believe they will sell at a margin that at least returns the cost of funds.
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