Darragh O'Brien (Dublin Fingal, Fianna Fail)
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To fund the commercial activities of the Land Development Agency (LDA), the Land Development Agency Act 2021 and the National Treasury Management Agency (Amendment) Act 2014 currently provide for:

• €2.5bn of funding from the Ireland Strategic Investment Fund (ISIF);
• €1.25bn of borrowings as provided for under the LDA Act, as well as;
• €1.25bn that can be raised by the LDA through the performance of certain functions.

Of this, it has drawn down €1.25bn of equity capital from ISIF since its establishment. The amounts drawn down and the dates draw down occurred were:

March 2022	February 2023	April 2023	November 2023	May 2024
€100m	€250m	€275m	€300m	€325m

At end-August 2024, the LDA had entered into capital commitments of €1.665bn in aggregate. Total capital commitments are expected to reach €2.191bn by end 2024. The LDA expect to enter into a further €1.25bn worth of capital commitments in 2025.

With respect to Exchequer funding provided to the Agency since its establishment, the LDA was established on an interim basis in September 2018 through S.I. No. 352/2018. The Land Development Agency Act 2021 was signed into law in July 2021. Following the commencement of the relevant provisions of the LDA Act, the interim LDA entity was dissolved and all functions and staff of the interim LDA entity transferred to a new LDA Designated Activity Company (DAC) on 31 March 2022. This LDA DAC was incorporated by the Company Registration Office in December 2021.

The annual cost to the Exchequer of the interim LDA entity between September 2018 and its dissolution in 2021 is set out in the table below:

2018	2019	2020	2021
€ 254,000	€ 2,408,000	€14,100,000	€16,600,000

As a commercial State body, the commercial activities of the LDA DAC are not funded by the Exchequer. However, funding is provided to cover expenditure associated with their non-commercial functions. The annual Exchequer cost of the LDA following the dissolution of the interim LDA entity and the establishment of the LDA DAC is set out in the table below:

2022	2023
€ 535,000	€ 1,124,000

Exchequer funding of €3.8 million is being provided to the LDA for 2024 which is to cover expenditure associated with their non-commercial functions. These functions are detailed under Section 29 of the LDA Act 2021 and include the maintenance of the Register of Relevant Public Lands, the development of a report to Government on relevant public lands and any functions associated with the development of a Strategic Development Zone as provided for under Part IX of the Planning and Development Act 2000, as amended.