Dessie Ellis (Dublin North West, Sinn Fein) | Oireachtas source

I congratulate Dr. Norris on her appointment and I thank the delegation for the presentation. Dr. Norris raised one particular issue which I have been looking at as well.

We know that capital funding for housing has been cut dramatically. What is happening is the HFA is funding most of the voluntary housing bodies. As Dr. Norris mentioned, the policy was to lend to the local authority which in turn lent the money on to voluntary bodies but now the HFA has the power to lend directly to voluntary housing bodies. I have always had a serious concern that we are seeing a significant growth in these voluntary housing associations at the expense of the local authorities. There are many very good voluntary housing groups, but I wonder about their capacity down the road to deal with the problems that arise as buildings get older. I do not know how the HFA would judge that.

Much of the NAMA property is going to voluntary housing bodies. They are striking deals with NAMA but I assume they then seek funding from the Housing Finance Agency. I assume the HFA does not engage with NAMA but considers all the proposals that come before it. It would be interesting to find out if there is an engagement between HFA, the voluntary housing groups and NAMA. Have problems arisen with the ability of the groups to pay back their loans?

The HFA stated to a committee in 2011 that it had made a profit of €3 million, which increased to €15 million in 2012. I wonder what areas are not paying a good dividend. Will it also provide the detail of how this money has grown, particularly the significant increase in profit from 2011 to 2012? I am trying to figure out how the HFA made such a significant jump in its profits during these difficult economic times.

We have been flogging the idea of shared ownership but I know that some 58 properties purchased under this scheme have been handed back to Dublin City Council. A number of people who bought houses under this scheme are experiencing difficulty with the rent, with arrears constantly building up. People did not redeem that portion quickly enough and now they owe more and more. Mr. O'Leary said it might be possible to look at the HFA surplus and use some of that money to help them out. I do not know if that is a serious proposition. Deputy Kevin Humphreys as well as the Chairman mentioned it. It would be very welcome if there was a way of dealing with the issue.

The HFA lends to the local authorities for environmental projects. What proportion of the loan book is that? Does that get paid back on target and on time?