Dr. Larry O'Connell:

The starting point for the Land Development Agency is taking sites that are very difficult at present, where the gap might not be enormous. This is not the Land Development Agency walking in to take a site in the docklands in Dublin and trying to compete where there is a big difference between what it is at present and what it could be. We will start with the Land Development Agency taking public land. As I made very clear, there are many complexities to be worked out in the land. This is the piece of land we are looking at in the gap. With regard to the wider issue of whether there is a gap I do not really have a view but the key issue is that we are trying to get more land that is not very amenable to development into play.

While I run the risk of repeating myself, it is interesting that the LDA seems to be trying to create more of a partnership model with local authorities. I am not in a position to comment on the O'Devaney Gardens model, which predated the LDA. One would hope we would not arrive at that scenario again. In its submission to the committee, it seems that the LDA will engage with the private sector such that it will extract full market value. That is part of what it claims it will try to do.

I will ask Mr. Cahill to speak about locational value mechanisms.

The Deputy asked about the LDA and transparency. While we would be slow to comment, his points about FOI, etc., seem valid and need to be considered. Any respected agency in the public sector should have accountability and governance mechanisms that should be used to ensure its powers cannot be abused. It is a valid issue to raise. The key from our perspective is to put in place an agency with transparency and which has highly skilled individuals whose remit is focused on a public good. That seems to be what has been created.