Dáil Éireann Debate, Tuesday - 18 September 2018
789. Deputy Eoin Ó Broin asked the Minister for Housing, Planning and Local Government if the proposed mixed tenure housing developments in locations (details supplied) will be provided with revenue funding, loan finance from the Housing Finance Agency or the European Investment Bank, or a combination of both. [37327/18]
Amharc ar fhreagraThe development of major local authority residential sites in Dublin, where a lack of supply and affordability issues are being experienced most acutely, is a major priority for the Government. We are working with all Dublin local authorities to see these sites are brought forward as quickly as possible, with the optimum tenure mix and ensuring the greatest value for money for the taxpayer.
In the first instance, it is a matter for the local authority and its elected members to agree the optimal approach to development and financing. In this context, agreeing the annual budget, authorising borrowing and the disposal of land are all reserved functions. All borrowing by local authorities is of course subject to the overall limits which are set by the Government from time to time in the context of the General Government Balance.
For my part, I have made it clear that direct Exchequer funding will be provided for any social housing element of these mixed-tenure developments. In addition, both sites identified in this question are designated as Major Urban Housing Development sites. In recognition of this, I am keen to support their development and have committed combined funding of €8.5 million under the Local Infrastructure Housing Activation Fund (LIHAF) to provide public infrastructure which will open up the two sites for development.
In order to support the development and financing of social and affordable housing projects, my Department has engaged extensively with the European Investment Bank with regard to financing options and also leveraging the Bank's vast experience and knowledge in developing and supporting public housing projects in other Member States. Local authorities have also engaged directly with the EIB for the same purpose.
I and my Department will continue to work with local authorities on their major mixed-tenure housing projects to help them ensure the optimal delivery outcome.
