James Geoghegan (Dublin Bay South, Fine Gael)

You have upgraded me there, too. Thanks, a Cheann Comhairle.

Under this Bill, vesting orders will be served within one week of being made, compensation must be determined within six months by an independent valuation tribunal rather than a non-transparent panel of arbitrators, and once compensation is awarded, it must be paid within two months.

Second, the Bill establishes the right to an advance payment. Up to 90% of estimated or agreed compensation will be paid up front. This helps landowners plan and move to a new property if required. Uncertainty about whether a payment will be received or what the sum will be is a common source of opposition to CPOs.

Third, the Bill removes complexity surrounding unknown ownership for properties. Where heirs cannot be located or title is unclear, funds can be paid into court with structured avenues for claims, determinations and eventual release to the authority if the compensation goes unclaimed. There are several derelict properties in Dublin that cannot be compulsorily purchased right now because the owners cannot be tracked down. This Bill will bring an end to that.

Fourth, the Bill repeals the current arbitrary principles of compensation that were developed in 1919 and codifies far clearer modern principles. It also ensures land values are not inflated simply because the State intends to develop nearby. The public should benefit financially from public investment, not a landowner who has already been fairly compensated.

Last of all, the Bill greatly enhances transparency.

Advance payments, costs and interests must follow prescribed rules, bringing fairness to owners and accountability to public bodies. These changes will have a profound impact on housing infrastructure delivery and the renewal of towns and cities across the country.

The Bill will make our CPO process transparent, fair and quick. It strikes the balance between respecting property rights and empowering the State to act for the public good. It will make CPOs a modern tool for modern challenges. I commend the Bill to the House.

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