Dáil Éireann Debate, Wednesday - 14 September 2011
134 Deputy David Stanton asked the Minister for Finance his plans to complete housing estates and other developments under National Asset Management Agency control; and if he will make a statement on the matter. [24137/11]
View answerNAMA participated in the Working Group set up by the Government to examine the issue and extent of unfinished estates in Ireland. The Group's report was published by the Minister for Housing in June 2011.That report identified 2,800 unfinished estates that were categorised by reference to the extent to which they required remediation work. The report identified about 225 Category 4 estates which were considered to require immediate remedial attention. NAMA debtors have loans with an exposure to 31 of those Category 4 estates. I am informed by NAMA that is has committed, through its debtors, the cost of essential urgent works on these sites. It instructed a surveyor to carry out an initial assessment of the required works to meet the public safety initiative, and then each debtor/site owner was requested to liaise with the Local Authority to assess what works needed to be carried out urgently and the estimated cost of such works. Based on this assessment, it was estimated that funding of €3m was required for urgent remedial work. Site resolution plans are currently being prepared and consultation is taking place with various local authorities in relation to sites within their areas. NAMA is considering proposals and 15 site resolution plans are under review.
