Dáil Éireann Debate, Tuesday - 16 November 2021
287. Deputy Richard Bruton asked the Minister for Housing, Local Government and Heritage the contribution anticipated from financial institutions to the various schemes to restore buildings which have suffered from building product defects, in view of the benefit they enjoy in the value of the security of their portfolio of property as a result of the restoration of these properties at the taxpayer's expense. [55751/21]
Amharc ar fhreagraBudgets 2021 and 2022 provide funding of €40 and €60 million respectively to fund the operation of the Defective Concrete Blocks Grant Scheme and the Pyrite Remediation Scheme, both supporting homeowners who have been affected by building product defects.
In accordance with the Pyrite Resolution Act 2013, the Board pursues contributions from all appropriate parties e.g. builders, developers and quarries and where scheme participants have received payments in respect of remediation works, other than under the Scheme. In addition, in June 2014, an agreement was signed regarding HomeBond’s contribution towards technical and project management services, under the direction and supervision of the Pyrite Resolution Board and/or the Housing Agency, to the value of €2 million.
In respect of the Defective Concrete blocks scheme, I intend very shortly to bring a Memorandum to Government setting out proposals for improvements to the existing scheme, it’s future administration and various other matters raised in the report of the working group including pursuing potentially responsible parties and revenue streams.
The oversight of the banking sector falls within the remit of my colleague, the Minister for Finance.
