In a recent announcement, the Irish Government has authorised the release of the preliminary framework, also known as draft heads, for the Land Value Sharing and Urban Development Zones Bill 2022. This legislation is designed to achieve several objectives:
Firstly, it empowers local authorities to secure a percentage of the enhanced land values resulting from public decisions to zone land for development purposes, including residential projects, or those falling under an Urban Development Zone designation. Secondly, it establishes Urban Development Zones, areas with significant potential for substantial growth in housing and other sectors.
These proposed measures have been devised in accordance with the goals laid out in Housing for All, the Government’s comprehensive plan addressing housing issues until 2030. Furthermore, the legislation aims to ensure that the state obtains a larger portion of the communal benefits derived from the planning and development process.