Dáil Éireann Debate, Tuesday - 15 January 2019
83. Deputy Richard Boyd Barrett asked the Minister for Housing, Planning and Local Government if he has met or is considering meeting NAMA to discuss the part it can play in the delivery of social housing; and if he will make a statement on the matter. [1387/19]
Amharc ar fhreagraIn 2011, my Department, the Housing Agency and NAMA commenced a process of engagement to determine whether properties from NAMA’s loan portfolio could be delivered for social housing. A Steering Group with representatives from each of the three stakeholders was established in 2012 for the purpose of managing the flow of information between NAMA, local authorities and Approved Housing Bodies (AHBs).
The Steering Group established a co-ordinated process, which enabled NAMA to match the residential stock of its debtors and receivers with housing requirements of local authorities. Once demand was confirmed, NAMA facilitated delivery, through its debtors or receivers, by way of either direct sale or lease to local authorities or AHBs.
Local authorities, together with the Housing Agency and my Department, have worked systematically through the full list of properties identified by NAMA as potentially available, to determine if there is a social housing demand for the homes involved. This process is ongoing and demand has been confirmed by the local authorities for 2,718 homes to end September 2018. To date, a total of 2,475 of these properties have been delivered for social housing.
In order to expedite delivery, NAMA also established a special purpose vehicle, National Asset Residential Property Services DAC (NARPS), in July 2012, which operated by purchasing properties from NAMA’s debtors and receivers and making them immediately available to local authorities or AHBs through a standardised long term lease. Since 2012 NARPS has delivered/contracted over 1,300 properties for lease to local authorities and approved housing bodies. These properties are included in the 2,475 figure referred to earlier.
I am advised that as NAMA is now well advanced on its deleveraging programme, there is no longer any suitable stock available for purchase from debtors and receivers and accordingly there is no scope to expand the NARPS portfolio further.
