Dáil Éireann Debate, Tuesday - 14 February 2023
270. Deputy Sean Sherlock asked the Minister for Housing, Local Government and Heritage if he will provide an update under Housing for All on increased funding capacity for the LDA for strategic development of public lands for affordable and social housing in city and town centres. [7134/23]
Amharc ar fhreagraUnder Housing for All the Government plans to increase the supply of housing to an average of 33,000 homes per year over the next decade. Over 300,000 new homes will be built by the end of 2030, including a projected 90,000 social homes, 36,000 affordable purchase homes and 18,000 cost rental homes. The Land Development Agency (LDA) are at the heart of this plan, advancing their remit to develop land, particularly public lands, for housing.
The Land Development Agency Act, 2021, provided for the establishment of the LDA Designated Activity Company (DAC) as a commercial State Agency and the initial capitalisation of the LDA DAC by the National Treasury Management Agency from the Ireland Strategic Investment Fund.
The Act further provided that the LDA will have the capacity to borrow €1.25 billion. Housing for All recognised that additional resourcing will be required to meet the increased level of activities envisaged under the plan to assist in funding the pipeline of housing, including on additional State lands, and accelerated housing through Project Tosaigh. This additional funding will be subject to an amendment being made to the LDA Act which will be brought forward as required.
