Social and Affordable Housing Provision

Dáil Éireann Debate, Tuesday - 3 December 2013

Tuesday, 3 December 2013

Questions (246)

Dara Murphy

Question:

246. Deputy Dara Murphy asked the Minister for the Environment, Community and Local Government with regard to the land aggregation scheme, if it provides that a local authority may transfer residential land on which there are outstanding Housing Finance Agency loans due for redemption; in relation to Cork City Council, where this scheme is at, the land that has been transferred; the cost that has been incurred by Cork City Council; and if he will make a statement on the matter. [51511/13]

Written answers

Minister of State at the Department of the Environment, Community and Local Government

The Land Aggregation Scheme was introduced in 2010 as part of revised arrangements for the funding of land for social housing purposes.

Since the introduction of the scheme, an estimated total loan value of €162m has been approved into the Scheme in respect of 73 sites in nineteen local authority areas . The figure of €162m includes €111m in respect of loans which have been fully redeemed by local authorities with funding recouped from my Department, under the original terms of the Scheme. The remaining €51m is in the form of annuity loans with the Housing Finance Agency (HFA), for which local authorities are making repayments to the HFA, and may recoup these payments from my Department.

Cork City Council has applied to have some 7 sites and 9 associated loans included in the Land Aggregation Scheme. I understand the combined outstanding value of these loans is in the order of €37m.

My Department is engaged in a review of the Scheme, which will shortly conclude, and pending its completion is not in a position to progress applications.