Mr. John Coleman:

I travel up and down it every morning. When we have formed ideas and come up with potential solutions to some of the questions that have arisen about the Dundrum site, we will be very keen to open up it to public consultation. There are assurances in that respect.

I would like to respond to some of the issues raised by Deputy Boyd Barrett. He suggested the existence of the LDA added another layer to this process. As we said in our discussions with some of the other members, we do not want to duplicate the work of other agencies. We see the LDA as a tool for the local authorities to deploy in circumstances in which we can add value. Where we cannot add value, we will not get involved. If we can provide potential financing solutions on the affordable delivery side of things, we will certainly try to become involved. I argue that we will be additive. Some members mentioned that it would be useful to get the evidence of some local authorities about our engagement with them and where they see us fitting in. There is scope for a national body to provide solutions in that respect. It may help to ensure duplication is avoided across local authorities. It may also help to meet the need for consistency, learnings and scale. The establishment of IDA Ireland, as opposed to a number of regional agencies, is an example of a national approach being taken. It is an example from the past to which we can look.

The Deputy also asked about the role of the LDA in the use of public land. He suggested we might not have an additive role in dealing with the challenges associated with public land. I argue that there is a very strong need for someone to challenge the way we use public land. The LDA has been set up because there is a view that a specific agency is required to make the case to the Government and landowners for alternative uses of land, where appropriate.

There is another way to look at the Deputy's point about the privatisation of public land. The LDA intends to be active in the land market, for example, by acquiring land from outside the public sector. This means that at certain times in the cycle, it could be the other way around. In other words, if land currently in private ownership is acquired by the LDA, it will end up in public ownership. There is a balance. It is not all one-way traffic.

The Deputy also asked about the focus on private finance. Obviously, we have been earmarked for significant public finance from public sources. A €1.25 billion capitalisation figure is proposed. If we bring in private finance, in terms of debt finance, it will be used as a tool to try to make what we are doing more affordable. If we can bring in cheap finance from the European Investment Bank, we will be able to pass on any saving to the occupiers of homes. That is one aspect of our approach. The other aspect involves considering how we finance and structure ourselves. If we want to achieve true scale, the capitalisation for we have been earmarked will have to be recycled and stretched many times. If we deliver everything directly and fund it entirely ourselves, the €1.25 billion will probably be eaten up by the initial portfolio of eight or nine sites. If we deliver seven or eight sites before running out of money, we will be at risk of being a one-trick pony. It is important to look at solutions that involve all financing sources in a way that will contribute towards our goals, one of which is affordability.