Dáil Éireann Debate, Tuesday - 30 November 2021
252. Deputy Peadar Tóibín asked the Minister for Housing, Local Government and Heritage if the Land Development Agency is fully operational; the budget provided per annum for the work of the Land Development Agency; and the number of staff currently employed by the Agency. [58837/21]
View answerThe Land Development Agency (LDA) was established on an interim basis in September 2018, by way of an Establishment Order made under the Local Government Services (Corporate Bodies) Act 1971. The Land Development Agency Act was recently signed in law and, on commencement, the LDA will be established as a commercial State agency. In advance of the establishment of the new commercial entity, significant preparatory work is underway in relation to a number of development sites, with feasibility, planning and other preparatory works already initiated.
At present, funding is provided to the LDA through my Department's Vote to meet its operational costs as well as initial capital funding in relation to the development of its projects, pending its capitalisation from the Ireland Strategic Investment Fund (ISIF) with the commencement shortly of the LDA Act. A breakdown of the allocated funding and funding drawn down for the years 2018, 2019, 2020 and 2021 (to date) is set out in the table below. It should be noted that Covid related safety restrictions impacted the progression of the LDA's projects during 2020 and 2021.
|
Capital Expenditure Allocated € |
Capital Expenditure Drawn Down € |
Current Expenditure Allocated € |
Current Expenditure Drawn Down € |
|
|
2018 |
n/a |
n/a |
2,000,000 |
254,000 |
|
2019 |
16,500,000 |
467,000 |
3,549,000 |
1,941,000 |
|
2020 |
13,500,000 |
9,500,000 |
4,000,000 |
4,600,000 |
|
2021 (to date) |
60,000,000 |
10,000,000 |
5,000,000 |
5,600,000 |
Under the LDA Act, funding of up to €1.25 billion will be made available to the LDA for the purposes of its activities through an investment from the ISIF. The LDA will also have the ability to borrow up to €1.25 billion to fund these activities.
Housing for All recognises that additional resourcing, likely to be in the form of borrowing, will be required to meet the increased level of activities envisaged under the plan. Approximately €1 billion will be required in 2024 to assist in funding the following:
- Pipeline of housing including on additional State lands;
- Accelerated housing through Project Tosaigh; and
- the National Asset Residential Property Services (NARPS) D.A.C from NAMA.
The LDA currently employs 51 staff members and continues to actively recruit staff, with a further 2 employees expected to join by the end of 2021. In line with its mandate, it will retain experienced staff with extensive skills and experience in project management, finance, planning, development, law and procurement and will provide professional services to master-plan key sites/areas for development in key urban areas, in partnership with local authorities and other state bodies.
