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NAMA Social Housing Provision

Dáil Éireann Debate, Thursday - 17 January 2013

Thursday, 17 January 2013

Questions (32)

Charlie McConalogue

Question:

32. Deputy Charlie McConalogue asked the Minister for Finance if he expects the National Assets Management Agency to be in a position to provide additional social housing in 2013; and if he will make a statement on the matter. [2019/13]

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Written answers

The Deputy may wish to consider my response to a parliamentary question from Deputy Barry Cowen on 13th December 2012, which deals with this matter in some detail. NAMA advises that it has identified 3,879 residential properties controlled by its debtors and receivers as being available for social housing provision. This represents a very substantial contribution by NAMA in the context of the limited number of available residential properties in Ireland controlled by its debtors and receivers and the range of policy measures being adopted by this Government to meet demand for social housing provision.

The onus for determining the suitability for social housing of the units identified by NAMA rests, in the first instance, with the local authorities, which assess, in conjunction with the Housing Agency, the demand for identified houses and apartments by reference to criteria including the avoidance of undue segregation in housing within specific developments and areas. Once local authorities have confirmed demand for units, the Approved Housing Bodies (AHBs) are, through the Housing Agency, asked to confirm and progress their interest in leasing or purchasing the units.

I am advised that to date demand has been confirmed by the local authorities for 1,517 of the properties that NAMA has made available. Another 799 properties are being evaluated bringing the overall total that may be deemed suitable to 2,316 potentially. The local authorities have confirmed that there is no demand in respect of 982 of the properties. I am advised by NAMA that, in the time required by local authorities to assess and confirm demand for units, 652 properties have been sold or privately let by their owners or duly appointed receivers.

Of the properties for which demand has been confirmed, 203 units have been delivered for social housing to date under the initiative, contract terms have been signed or agreed in respect of a further 65 properties and negotiations are at an advanced stage in relation to the majority of the remaining units.

I am advised by NAMA that once demand has been confirmed for units and contracts signed there is no impediment to the early delivery of properties by its debtors and receivers for social housing. I am further advised by NAMA that it has established a Special Purpose Vehicle (SPV) to acquire units from its debtors and receivers where necessary to speed up their direct leasing to housing authorities. NAMA advises that once the AHBs have confirmed their demand for and contracted to lease properties it will be in a position to make them available through the SPV.

NAMA is working very closely with the Minister for the Environment, Community and Local Government and the Minister of State for Housing and Planning in relation to this very important initiative and all parties are committed to the maximum possible delivery of residential units in 2013. The Deputy will appreciate that the housing authorities have a key role in this regard and the Housing Agency is working very closely with these bodies to facilitate delivery of units. However, the pace at which units are delivered is not controlled by NAMA and I am satisfied that NAMA has brought the initiative as far as it can at this point in time.

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