Dáil Éireann Debate, Thursday - 27 February 2014
160. Deputy Ciarán Lynch asked the Minister for the Environment, Community and Local Government the funds that have been allocated for the completion of unfinished estates; the estates that will benefit; the criteria that will apply; and if he will make a statement on the matter. [10004/14]
View answerBudget 2014 contain s a special provision, in the form of a targeted €10 million Special Resolution Fund (SRF), to further assist in addressing the legacy of unfinished housing developments. The SRF has been proposed to encourage the resolution of the remaining tranche of unfinished developments identified in the National Housing Development Survey 2013 and, particularly, those developments not likely to be resolved in the normal way through solely developer/owner/funder action because of the presence of specific financial barriers. It is envisaged that the SRF should be particularly targeted to address the remaining unfinished developments with residents living in them and, in particular, any developments that local authorities identified, for the purposes of the Local Property Tax waiver, as in a seriously problematic condition. In December 2013, my Department wrote to local authorities seeking proposals for funding support under the SRF and the deadline for receipt of applications is 28 February 2014. Submissions will then be evaluated by my Department in accordance with the criteria that have been circulated to the local authorities and funding allocations made to local authorities as soon as possible thereafter.
Factors likely to be taken into account in the assessment of proposals include the quality and clarity of the funding proposal, the extent to which the development will be resolved within the SRF timeframe, the level of additional private sector finance being leveraged, the wider economic benefit of the proposal, and the community gain arising. My Department will support SRF proposals capable of delivering significant and lasting impact in relation to the quality of the resolution process itself and improved conditions for residents. It is hoped that the SRF will enable very substantial progress to be made in resolving as many of the remaining unfinished developments as possible.
