John McGuinness (Carlow-Kilkenny, Fianna Fail)
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60. To ask the Minister for Finance if it is appropriate for the National Asset Management Agency to compel the sale of land where planning has lapsed even though a better price could be achieved if new planning was obtained. [46571/14]

John McGuinness (Carlow-Kilkenny, Fianna Fail)
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62. To ask the Minister for Finance if the National Asset Management Agency has ever refused a borrower consent to apply for planning permission on the borrower’s property; if so, the way such a refusal would be of benefit to the taxpayer. [46573/14]

John McGuinness (Carlow-Kilkenny, Fianna Fail)
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63. To ask the Minister for Finance the National Asset Management Agency's policy on borrowers proposing to increase the value of land by applying for planning permission and if this policy is transparent and objective. [46574/14]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 60, 62 and 63 together.

NAMA works closely with its debtors to identify opportunities to enhance asset values through the planning process and it therefore evaluates carefully all requests to fund planning applications.  In a large majority of cases, NAMA agrees to such requests and is currently supporting its debtors to advance a number of significant applications through the planning process.  I am advised by NAMA that its credit application approval rate is in excess of 95%. 

NAMA cannot, however, accede to all such proposals from debtors.  Each proposal has to be prudently assessed on a cost/benefit basis taking account of both the planning and market risks involved and the expected return on investment.  There are clearly cases where the costs associated with the proposed planning application, costs that are borne by NAMA and ultimately by the taxpayer through additional borrowings, cannot be justified by reference to the potential increase in value.   

NAMA has significant internal planning expertise as well as access to external advice.  Any decision taken by NAMA to turn down a request for funding a planning application is taken with full consideration of the facts and all available advice in the specific case. 

NAMA clearly communicates to its debtors the rationale for its decision on each credit application.  All NAMA decisions are documented and signed off by the appropriate NAMA Board-approved delegated authority and are subject to independent review by internal and external auditors.  In addition, the NAMA Chairman and CEO have publicly stated on a number of occasions that any debtor with a concern or complaint in relation to the dealings with NAMA, including, for instance, a NAMA decision to refuse funding for a planning application, should feel free to directly contact them.  All such queries and complaints are fully investigated by the Chairman and CEO.