Richard Boyd Barrett
Ceist:371. Deputy Richard Boyd Barrett asked the Minister for Finance the amount NAMA has paid out to date for repair and maintenance of properties in its portfolio. [35034/18]
Amharc ar fhreagraTuesday, 24 July 2018
Ceisteanna (371)
Freagraí scríofa
I wish to advise the deputy that NAMA may provide funding to its debtors and receivers to protect and enhance their assets so as to optimise their income-producing potential and disposal value. This is in accordance with section 10 of the NAMA Act which states that NAMA is required to protect or enhance the value of its acquired assets and to obtain the best achievable financial return for the State.
NAMA advances loans to its debtors and receivers for a range of purposes, including essential expenditure required to ensure that properties are compliant with health and safety requirements, and remediation works so as to enable unfinished or defective housing to be brought to a habitable standard.
To date, NAMA estimates that it has provided funding of €90m for remediation works. This figure includes funding for works completed, in progress or approved but yet to commence.