Dáil Éireann Debate, Thursday - 17 July 2014
146. Deputy Michael McGrath asked the Minister for Finance his views on whether the National Asset Management Agency will engage in demolition of part-built housing schemes; and if he will make a statement on the matter. [32497/14]
View answerNAMA advises that, in the case of unfinished housing estates, where buildings are unsafe or otherwise not viable, demolition may be considered as an option. NAMA advises that whilst a decision to demolish any building or development is not taken lightly, it may be considered as a means of reaching resolution on properties where the development is unviable for economic, structural or safety reasons. NAMA provides further detail on this in its Annual Report and Financial Statements for 2012, which is available on its website, www.nama.ie. The Deputy may, in particular, wish to refer to pages 36-37.
NAMA's practice where it holds security over unfinished housing estates is to require its debtors and receivers to prepare Site Resolution Plans, which must be agreed with each relevant local authority with input from residents and other stakeholders. I am advised by NAMA that through this mechanism it has to date provided funding of the order of €4m for a variety of works, including the completion of internal roads and other estate infrastructure and the completion of houses and apartments for sale or rent.
