Leo Varadkar (Dublin West, Fine Gael)
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Question 138: To ask the Minister for Finance the extent to which the National Asset Management Agency will take into account planning permissions attached to undeveloped sites in valuing assets that it will buy from the banks; and if he will make a statement on the matter. [36493/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Section 74 of the NAMA Bill provides that in determining the long-term economic value of a bank asset, one of the factors NAMA will consider will be the market value of the property. Section 77 provides that in making valuation regulations the Minister may have regard to land and planning considerations that may exert an influence on the future value of the asset concerned. Clearly, if planning permission is attached to a site this will affect the determination of its value.