I am chairing the National Co-ordination Committee on Unfinished Housing Developments to oversee implementation of the Report of the Advisory Group on Unfinished Housing Developments, together with the Government's response to the recommendations. The Committee includes representatives from the Irish Banking Federation, local authorities, the Housing and Sustainable Communities Agency, NAMA and the construction sector. The Committee is meeting on a regular basis with the aim of publishing a report on progress achieved within the next 12 months. In the meantime, work is ongoing on implementation of the Report of the Advisory Group and real progress is already being made with regard to the public safety works required to improve the living conditions of existing residents on some unfinished estates.
While planning authorities are making progress in securing the co-operation of developers, financial institutions and/or bond holders, thereby obviating the need to use Exchequer resources to fund such work the ongoing work of the Committee includes an assessment of the framework for the operation of bonds. This is taking account of existing legislative provisions, statutory guidance and practical experience in the operation of bonds in order to determine what further policy advice and action are necessary in this regard. The specific information sought in relation to the number or values of bonds of particular types is not available to my Department.
