Mr. Brian Geaney:

I will answer Deputy Ó Broin's question. We have not used joint ventures to date at the scale that Dublin has but where we have entered into joint ventures, we have used a competitive dialogue process in Cork on 11 sites and we used our own Part 8 development application with approval by members for eight of those sites. Our experience with timelines for that has been largely positive. For example, the 30 unit scheme that I referred to earlier for downsizing had Part 8 approval from our members on 31 July last year and will be delivered before the end of the year. There is a good timeline and good experience with that. With regard to the serviced sites fund and the main project that we have made an application for, Boherboy Road, we are lucky that we have no land debt on that site. We have some design costs. Sales prices have not been determined yet but we will have to go to the market and hope the funding is approved through that fund. The local authority needs to come up with that 25% which will pose some difficulties for us. Like South Dublin and Fingal, Cork City Council has not availed of the €2 million single stage process for the reasons outlined earlier. On cost rental, we are lucky with the housing association in Blackpool. Rents are being looked at and due to the volume of social housing on the site, some could be made available for cost rental, at probably 25% to 30% under market value.