Jackie Cahill (Tipperary, Fianna Fail)
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801. To ask the Minister for Housing, Planning, and Local Government the planned ownership of the Land Development Agency; and if he will make a statement on the matter. [20379/21]

Peter Burke (Longford-Westmeath, Fine Gael)
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The Land Development Agency (LDA) was established on an interim basis in September 2018, by way of an Establishment Order made under the Local Government Services (Corporate Bodies) Act 1971, pending the enactment of primary legislation when it will be established as a commercial State agency.

As stated in the Programme for Government, legislation to establish the LDA on a statutory basis is being progressed as a matter of priority. The Land Development Agency Bill 2021 will focus on the establishment of the corporate form and financial structure of the Agency. The LDA Bill was recently published and has been debated at Second Stage in Dáil Éireann.

Once the primary legislation is in place, arrangements will be finalised for the capitalisation of the LDA with funding of up to €1.25 billion being provided from Ireland Strategic Investment Fund.

Under the LDA Bill, the initial shareholding in the LDA will be €100 million, with the Minister of Public Expenditure and Reform being the majority shareholder, holding shares with a value of €99 million, and the Minister for Housing being a minority shareholder, holding shares with a value of €1 million.

Jackie Cahill (Tipperary, Fianna Fail)
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802. To ask the Minister for Housing, Planning, and Local Government the person or body the Land Development Agency will be answerable to; and if he will make a statement on the matter. [20380/21]

Jackie Cahill (Tipperary, Fianna Fail)
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803. To ask the Minister for Housing, Planning, and Local Government the person or body who will be answerable to the Land Development Agency; and if he will make a statement on the matter. [20381/21]

Peter Burke (Longford-Westmeath, Fine Gael)
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I propose to take Questions Nos. 802 and 803 together.

The Land Development Agency (LDA) was established on an interim basis in September 2018, by way of an Establishment Order made under the Local Government Services (Corporate Bodies) Act 1971, pending the enactment of primary legislation when it will be established as a commercial State agency. In accordance with the LDA Bill, the Minister for Public Expenditure and Reform and myself will the sole shareholders of the Land Development Agency, who will also be accountable to Public Accounts Committee and other Committees of the Oireachtas as appropriate.

Under the Land Development Agency Bill 2021, the LDA will require the approval of the Minister for Housing, along with Minister for Public Expenditure and Reform and Minister for Finance in certain circumstances, for a range of processes. These include such processes as entering into capital commitments, disposing of land and establishing subisidiary Designated Activity Companies (DACs). The Minister for Housing will receive advice from the New Economy and Recovery Authority (“NewERA”)(a business unit of the National Treasury Management Agency) when assessing these requests.

Under the Bill, the LDA will also be required to report to the Minister for Housing on its progress with regards to the achievement of the purposes of the Act every five years. The LDA will also have to comply with any directions given by the Minister for Housing, with the approval of the Minister for Public Expenditure and Reform, in relation to the performance of its functions.

The LDA Bill also places an obligation on relevant public bodies to cooperate with the LDA in the performance by the Agency of its functions relating to the relevant public land owned by the body. The relevant public body will be required to provide certain information on its relevant public land to the LDA including information on the current and previous use of such land.