Malcolm Noonan (Carlow-Kilkenny, Green Party) | Oireachtas source

I move amendment No. 138:

In page 34, between lines 2 and 3, to insert the following:

“Definitions (Part 7)

48. In this part—

“market value”, subject to section 53(6), means the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion;

“valuation date” means the valuation date within the meaning of section 53(2).”.

I will speak to this amendment and amendments Nos. 138, 155, 156, 159, 161, 162, 167, 168, 181, 182 and 235. I am introducing a number of amendments to this Part regarding the process for valuing relevant public land that is being acquired by the Land Development Agency, LDA. I am also introducing some minor additions to ensure the initial sites the LDA is currently progressing are also covered by this Part and can be transferred to the LDA following commencement of Part 7.

Amendment No. 138 introduces new definitions of market value and valuation date for the purposes of Part 7. The definition of market value is an accepted technical definition that is used by persons valuing land, including the Valuation Office, which will undertake most valuations of land under this Part. In order for any valuation of land or property to take place there must be an accepted understanding of what market value means. This definition of market value already appears in Department of Public Expenditure and Reform circulars 11/2015 and 17/2016 regarding the transfer and disposal of State property assets.

I want to reiterate that when land is being valued under Part 7, it will take into account the proposed use of the land, which will be to deliver significant levels of affordable housing as well as Part 5 housing.

The valuation date definition is technical and clarifies that where the LDA is acquiring relevant public land, the valuation date shall be the date that the LDA gives notice to the relevant public body that it will be acquiring the land.

Amendments Nos. 155 and 156 amend section 51 to remove the obligation on relevant public bodies to get their own estimate of the value of land where it is being offered to the LDA. This was an unnecessary provision and would have increased costs to a public body where it was disposing of land to the LDA. It is envisaged the Valuation Office will carry out this valuation exercise in many instances, as is existing practice for property transfers between public bodies.

Amendments Nos. 159, 161, 181 and 182 amend sections 53 and 54 to provide for the transfer of the public lands already being progressed by the LDA such as the Central Mental Hospital in Dublin and St. Kevin’s Cork. When the LDA was established in 2018 the Government decided these lands would transfer to the LDA but the actual transfer would not take place until this legislation was in place. This amendment specifically provides for these lands as they are not covered by the two arrangements currently specified in the Bill where a public body offers land to the LDA or the Government directs land should be transferred following a report to Government by the LDA. By specifically providing for these lands in this section, it will ensure the full provisions of this legislation will apply to these lands. This includes there will be specific affordable housing attached to each site under Part 9 and the land can be valued in line with this Part. The details of the land to be transferred are set out in a new Schedule.

Amendment No. 235 is a new Schedule that details these lands to be transferred to the LDA.

Amendment No. 162 further amends section 53 to clarify the valuation date for the purposes of valuing public lands transferring to the LDA shall be the date the LDA gives notice it will acquire the land. Amendment No. 168 is a consequential amendment to section 53(4)(a)

Amendment No. 163 amends section 53 to remove the requirement for the relevant public body and the LDA to try to get an agreement on the valuation of land before the land will be valued in line with the regulations I will bring to set out the valuation process. This is to streamline the process and to reduce unnecessary costs. As currently drafted, it would require both parties to get independent valuations.

Amendment No. 167 is a consequential amendment to section 53(3).