Rónán Mullen (Independent)

I move amendment No. 8:

In page 25, between lines 2 and 3, to insert the following:

"(d) facilitating specified service providers in the fields of the provision of emergency housing, transitional housing and related areas to have preferential purchasing rights in relation to the purchasing of such housing units, particularly where there are housing problems as defined by the local authorities.".

Fáilte ar ais roimh an Aire. I thank him for his very illuminating contributions this afternoon. I was reminded of the character Fabrice from the French novel, La Chartreuse de Parme, who after a distinguished career went on to become a much sought-after preacher. People would crowd the house to hear him speak. I thought the Minister had great potential in that regard.

This amendment proposes an addition to the purposes of NAMA, namely, the facilitation of specified service providers in the fields of the provision of emergency housing, transitional housing and related areas to have preferential purchasing rights in relation to the purchasing of such housing units, particularly where there are housing problems as defined by the local authorities. This issue was discussed extensively on Committee Stage last night and some excellent contributions were made by my colleague Senator O'Toole and Labour Party Senators on the issue in the context of similar amendments of their own.

In the Minister's dealings in the Dáil with Deputy Burton, she proposed an amendment to include among the aims of the Bill to contribute to the social and economic development of the State and the Minister accepted that amendment. His response on that provides a rationale for this proposal which seeks that in addition to the commercial mandate of NAMA, we would also strive for a social dividend. I mentioned on Second Stage that we are obliged to seek this social dividend and not just a commercial dividend and suggested the allocation of land for amenities and sheltered housing should be specifically included as part of NAMA's remit. It is clear that NAMA's mandate must be to maximise its returns by disposing of assets for as much money as possible. However, it is also clear that this crisis provides an opportunity to obtain desperately needed low cost housing for those worst affected by the current economic crisis. Therefore, instead of just bequeathing to the next generation a social and economic millstone, we should also seek to bequeath a social legacy.

In the course of last night's debate we had some illuminating contributions from some Senators. Senator O'Toole, in particular, brought forward an amendment which proposed the addition of certain words to the power specified for NAMA, namely, its power to distribute assets in specie to the Minister. Senator O'Toole proposed that this would be included to facilitate the development of infrastructure and public services for communities recovering from the financial crisis. He also asked a very relevant question about what that proposed power for the Minister was intended to achieve.

Senator Hannigan spoke eloquently to a similar amendment from the Labour Party which focused on appropriate assets being made available for public, community or social use, either free or at a non-commercial cost, or assets being transferred to appropriate statutory agencies to facilitate such use.

The reason I mention the other contributions is to underline the point that I believe there is general agreement to the effect that there must be some kind of social dividend specified in the NAMA legislation, not just envisaged. I appreciate that the purposes of NAMA have been amended to provide for it being required to contribute to the social and economic development of the State, and ministerial powers are so specified in section 14. The Minister intends, in effect, for this social goal to be achieved.

The Minister for Defence, Deputy Willie O'Dea, said last night that the Government was not opposed to giving Ministers and State agencies first refusal, in effect, when it came to NAMA assets where this was important for social developments in their particular areas. I note Senator Hannigan's contribution in particular about surveys he had carried out in communities where young people were very much in need of social facilities. I am thinking of such things as youth cafés and other services, and the importance of achieving that if we are to deal with some of the social problems that face us in the very areas where there are properties that may not be capable of being sold for anything like a reasonable market value.

In accepting that NAMA must seek to maximise the financial return, I believe nonetheless a case can be made for a specific named or included purpose for the agency, namely, to facilitate the specialised services providers in the provision of emergency transitional housing and related areas. I have been more general than the Labour Party and others in that regard, but I ask the Minister to consider this amendment because of the need for specificity. I do not deny that NAMA must seek to make the best financial return in all cases, but nobody denies that there will be assets which are not capable of a meaningful financial return, and it is to those properties we are now directing our attention.

I also submit that there is a need for legislation that will enable such socially minded action by the Government and it should be specified as a stated purpose. In doing this, it would in no way frustrate the central focus of NAMA to maximise the financial return on the assets.