Dáil Éireann Debate, Tuesday - 28 September 2021
374. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage if the Land Development Agency will be able to apply for either the cost rental equity loan or the affordable housing fund for the provision of affordable housing. [46679/21]
Amharc ar fhreagraThe 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 enactment, the LDA will be established as a commercial State agency.
The LDA Commercial Agency will be funded by way of a €1.25 billion equity investment from the Ireland Strategic Investment Fund (ISIF) as well as borrowing capacity up to €1.25 billion. As such, it is not intended that the LDA will avail of the Cost Rental Equity Loan Scheme or the Affordable Housing Fund in delivering homes for affordable purchase or cost rental on its own lands. In situations where the LDA is providing services to local authorities to develop housing projects under Section 15 of the LDA Act on local authority land, it is open to the relevant local authority to avail of relevant funds and schemes for these local authority projects.
