Ms Deirdre Scully:

That will be an interesting area of study as the concept of land value sharing moves forward. There will be questions about value and how significant the burden of cost is in areas that need to attract investment but are not the obvious places for investment because clearly that has an impact on value. There will be an element of the unknown but the Deputy is right that we need to closely monitor it and see how it works out. If there are concerns they can be addressed either by regulation or an update of the Bill at a later stage.

In relation to multi ownership or complex sites, there are lots of them, particularly former industrial estates that are still fully functioning at some levels but have often diversified into a whole range of other uses. In those situations, every site is unique and it is down to doing a really good plan for those areas in talking to all of the different landowners, identifying which ones are likely to, or interested in moving ahead and those that are not and need to maintain their businesses. Ensuring that the UDZ is put in place recognises those other sites. It also identifies different areas. For example, an area may be identified as an employment area and may be kept in a general, mixed use zoning that may apply to the entire area. It is important that the local plan gets into that kind of detail and identifies the appropriate areas for housing. Hopefully this will be refined in the regulations to make it clear. Issues in relation to how the UDZs, the land value sharing and the Residential Zoned Land Tax, RZLT, all interact is something that really needs to be worked out very carefully. This is because there are situations where we have very viable businesses in regeneration lands that provide really important local employment, particularly in areas that are surrounded by socially deprived areas. We do not want all the businesses to leave. We want to see reinvestment and we want to get that balance right. There is no one solution for all of those things, they require work. We would like to talk to the Department about how the relationships work between the different elements.