Ms Margaret Geraghty:

I will make a brief comment about rapid delivery. We have been working from the OGP framework in this regard. Talking to developers delivering such a construction model in Fingal, I understand that to make rapid delivery work, we need to get to a point of early contract or involvement. There is little point in going through our whole Part XIII process, getting a product at the end and then talking to those contractors about how they deliver it. If we are to look at rapid delivery on scale, we need to look at that early contractor involvement.

Regarding land specifically, in terms of PPPs, joint ventures or otherwise, traditionally, we have looked at the land value and what the developer would look to put on the table in that regard. We need to start looking at some kinds of models whereby one takes the land value out of the equation and tries to set the price of the property in terms of what one knows about the cost at which it can be constructed. That information is there, and then one marks against it. These are two models we need to examine. Equally, private developers are very interested in working with us on leasing models. This goes back to the question about NARPS. We really need to start looking at that. There is an opportunity for delivery there and we are missing it at present.