Dáil Éireann Debate, Wednesday - 21 October 2020
101. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage if Dublin City Council has submitted an application for the serviced sites fund for St. Michael's Estate, Inchicore, Dublin 8; the amount requested; and when a decision will be made on the issue. [31818/20]
View answer102. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage the amount, interest rate and maturity on the European Investment Bank loan provided for the cost rental apartments in St. Michael's Estate, Inchicore, Dublin 8. [31819/20]
View answerI propose to take Questions Nos. 101 and 102 together.
I can confirm that in July 2020 an application for grant funding under the Serviced Sites Fund (SSF) was formally submitted by Dublin City Council (DCC) to my Department in respect of the proposed development in Emmet Road, Inchicore of 375 Cost Rental units. This site has been identified as a pilot Cost Rental scheme and my Department has previously confirmed an intention, subject to submission of the required details, to support the scheme via the SSF.
The standard maximum level of funding available under the SSF is €50,000 per affordable home. My officials have already met with DCC officials in relation to the SSF application and the progress of the development more broadly. It is expected that a final decision will be made in relation to the application shortly. More generally, Departmental officials will continue to participate on the Project Board and Project Team for the Emmet Road Development with a view to supporting project delivery.
This Emmet Road development is currently at the design stage, with a dedicated design team working to progress to planning stage. Under current plans, in addition to the aforementioned 375 Cost Rental homes, there will be 109 social homes on the project. A public consultation process is presently active, and my understanding is that DCC intends to lodge a planning application with An Bord Pleanála in early 2021.
The social homes at Emmet Road will be entirely grant-funded by my Department. With regard to the Cost Rental homes, in addition to the SSF funding, it is envisioned that DCC will fund the remaining development costs for the Cost Rental units with a long-term, low-interest loan. As this project is still at the design stage, no application for funding will be made until the project is more advanced and the cost base established. The terms and conditions of any potential loan for this project would be discussed as part of that process.
The European Investment Bank (EIB) has expressed strong interest in supporting Cost Rental at Emmet Road, given the EIB’s track record of supporting similar public housing projects across Europe. I can confirm that a representative from the EIB is supporting the work of DCC and engages on an ongoing basis with the Project Board overseeing the project.
