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Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

Steven Matthews: ...land value sharing and urban development zones Bill 2022. I welcome from the Institute of Professional Auctioneers and Valuers, IPAV, Mr. Donald MacDonald, director of Hooke and MacDonald, and Mr. Patrick Davitt, chief executive of IPAV. From the Construction Industry Federation and the Irish Home Builders Association, IHBA, we are joined by Mr. Conor O'Connell, director of housing and...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

Mr. Pat Farrell: I thank the Chair, committee members and staff for enabling us contribute to this important discussion. Irish Institutional Property, IIP, members welcome the concept of capturing some of the value uplift in taking land from a lower use value to higher value, and using the revenue captured to fund the required infrastructure necessary to facilitate that higher use value....

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

Mr. Pat Farrell: To be very clear, we said at the outset that we welcome the concept of an LVS Bill. We welcome the concept of taking some of the uplift from the betterment of the land and making sure that is invested directly to deliver the infrastructure that is required to deliver the housing units. I just wanted to put that on the record and restate it again. That said, there is an...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

Mr. Pat Farrell: I will be brief because Mr. Kelleher said most of what I wanted to say. I have a good degree of confidence that over the summer period we will start to see concrete – no pun intended – Croí Cónaithe developments. Just talking to people across the development community and aggregating information I have heard, I am of the view that we will see it...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

Mr. Pat Farrell: Those are all positive developments. I cannot put a number on it, but I believe they will add materially to the stock and we will start to see progress on that. There was the LDA announcement regarding the Dundrum site. That is beginning to come on stream as well, although I know it is slightly different. I have a good degree of confidence that those developments, which...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

Mr. Pat Farrell: I reiterate we welcome the principle of LVS and we have not come up with a load of reasons against it. What we have said is it should be phased and the value capture should be applied to the specific site to provide the essential infrastructure that is needed. I ask members as legislators the following question. Would they complete an analysis of an important Bill based...