Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

When I was given this issue, I contacted the Taoiseach and I have been made aware of some of the background to it. It is important to note that NAMA has a commercial remit and a statutory objective to obtain the best achievable return for the taxpayer. However, in the context of its commercial remit and consistent with section 2 of the National Asset Management Act 2009, NAMA is at all times open to considering proposals aimed at contributing to broader social and economic objectives.

I am informed by NAMA that the property in question is controlled by a receiver, Mr. Tom O'Brien of Mazars, with NAMA having a secured interest in the property. As the Deputy will appreciate, receivers are obliged to optimise the value of property and other assets under their control and under section 10 of the NAMA Act 2009, NAMA is required to obtain the best achievable financial return for the State from its acquired loans and the properties that secure those loans so that, to the greatest extent possible, the debt outstanding against the assets can be repaid.

Prior to the receiver’s appointment over these lands, the property owner entered into an informal arrangement with Tyrrelstown GAA Club, which granted the club the use of the lands on a temporary basis, free of charge. The agreement with the GAA club was accepted as being no more than a temporary arrangement until such time as the owner of the land, now the receiver, determined the ultimate strategy for the land concerned. It is important to highlight that the site currently occupied by Tyrrelstown GAA Club is zoned for mixed use development under the Fingal development plan. As a result, the long-term use of the site as a sports amenity is not currently possible, unless the plan changes.

As part of the zoning process for the Tyrrelstown area, the property owner ceded 60 acres of lands to Fingal County Council for use for educational sites and amenity space, including playing fields. It is my understanding that Fingal County Council is currently developing the fields on this land, which are due to be completed in 2019.

I am advised that, following discussions, the receiver has agreed to grant Tyrrelstown GAA Club a licence to continue to use the property for another 15 months to the end of May 2019, at which point alternative facilities should be available, and that this arrangement has been accepted in principle by the GAA club. The receiver has been reasonable in his dealings with the club and it is now a matter for the club to engage with Fingal County Council as regards the alternative facilities now being put in place that I mentioned earlier.

While this is a positive development, it is important to reiterate that as NAMA does not own these properties, it is not in a position to compel debtors or receivers to sell their assets at less than market value. While it is clear that NAMA is not in a position to gift land or property, should a community group have an interest in a particular piece of land or property or wishes to extend a sports pitch, it should speak, in the first instance, with the debtor or receiver who controls the land.

While working to obtain the best achievable financial return for the taxpayer, the NAMA board is open to proposals that achieve desirable social objectives in a manner that complements the objectives of other public bodies, including Government Departments, State agencies and local authorities. In line with this, NAMA has facilitated the sale of land and property for a range of public uses including schools, parks and health care facilities.

NAMA also works with local authorities and other public bodies in the planning system to support the achievement of key policy objectives including, for example, the provision of social housing and the resolution of unfinished housing estates. To date, NAMA has facilitated the provision of almost 2,500 properties for social housing.

I believe the approach determined by NAMA'S board is contributing in terms of its primary commercial objective, while at the same time contributing to the achievement of wider public policy objectives.

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