Dáil Éireann Debate, Thursday - 2 October 2014
197. Deputy Catherine Murphy asked the Minister for the Environment, Community and Local Government the local authorities that have availed of the NAMA-run special purpose vehicle to bring greater housing stock forward for social housing purposes; the number of transfers that have taken place to each local authority; the number that are in development; the costs associated with each; and if he will make a statement on the matter. [37544/14]
View answerMy Department is working closely with NAMA, the Housing Agency, local authorities and approved housing bodies in relation to the delivery of social housing. Information in relation to the delivery of NAMA sourced units, including a full breakdown by county, of units delivered on quarterly basis, is available on the Housing Agency’s website: www.housing.ie/NAMA.
Since the process began in December 2011 up to end of June 2014, 736 NAMA-sourced units have been delivered nationally through all delivery mechanisms. A further 603 properties are active transactions whereby terms are agreed or active negotiation is ongoing with all parties concerned, or where a detailed appraisal (i.e. determining the most likely delivery mechanism) is being carried out. It is expected that more than 1,000 units will have been delivered through this process by end 2014.
Of the 736 NAMA sourced units delivered to the end of June 2014, 250 units have been delivered through the NAMA special purpose vehicle (SPV). This represents over 60% of total delivery since the NAMA SPV first began delivery in April 2013. In total, my Department has approved funding for 457 units through the SPV. The total funding approved is €4.3m on an annual basis. The following table outlines the number of units approved per local authority, the associated funding approved and the number of units delivered as of June 2014.
|
Authority |
Units Approved* |
Annual Full Year Cost of Approved units |
Units Delivered |
|
Carlow County Council |
5 |
31,374 |
|
|
Cork County Council |
83 |
594,201 |
72 |
|
DLR County Council |
19 |
225,216 |
19 |
|
Dublin City Council |
229 |
2,656,578 |
116 |
|
Fingal County Council |
20 |
208,440 |
20 |
|
Galway County Council |
10 |
48,804 |
|
|
Kildare County Council |
7 |
61,755 |
|
|
Kilkenny County Council |
19 |
124,998 |
|
|
Meath County Council |
11 |
77,964 |
11 |
|
Offaly County Council |
30 |
158,613 |
|
|
Waterford City and County Council |
8 |
45,816 |
8 |
|
Westmeath County Council |
16 |
90,641 |
4 |
|
Overall |
457 |
4,324,400 |
250 |
*Includes delivered
There is considerable complexity in delivering units through this process and dealing with the range of legal and financial constraints involved. In some cases properties require substantial completion works.
