Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

I thank Mr. Nicholson and Mr. Quinlan for the presentation and the work on the legislation. This is approximately two and a half years in gestation under two Governments, so I do not envy Mr. Quinlan and his team's difficulties in this regard. It is also important to point out that the serviced sites fund of €300 million was to deliver those 6,200 homes by the end of 2021. That was the ministerial commitment on the Dáil record. Only €2 million of it had been drawn down by December of last year. While €50 million has been allocated in budget 2021, that would only deliver 1,000 homes. While they would be very welcome, those 1,000 homes are not under construction.

In terms of the serviced sites fund, how many units of accommodation, including the 50 cost rentals on Enniskerry Road, will be completed in 2021? There will be 390 through the cost rental equity loan, but how many will be delivered and completed under the serviced sites fund this year?

Many of us were surprised there was not more detail in the legislation on the eligibility criteria for the serviced sites fund and the cost rental programme. Will the Minister and the Department consider releasing the draft regulations in parallel with the Bill, when it comes before us? All members would like to know, when we are debating and voting on the Bill in the Dáil later this year, who will be eligible and within what income and what will be the criteria. Publication of draft regulations would be very useful.

Is it significant that the income eligibility criteria in terms of percentage of household income has been removed and replaced by mortgage criteria for the serviced sites fund? Why is there no consideration of clear income-related criteria for what one is paying back on the mortgage for the serviced sites fund and on the rent as opposed to market discount considerations?

I refer to the shared equity loan. I will not bore people with my strong opposition to it. People know our party's position. Can Mr. Quinlan confirm what the entry level interest will be from year six or at least what the range is between what the Department wants, 1.5%, and the 3% proposed by the Banking and Payment Federation Ireland? Can Mr. Quinlan confirm that the interest will increase over time and if the proposition is to index link it to something such as inflation or have a step stair ladder?

Can Mr. Quinlan clarify how the shared equity loan will relate to the help to buy scheme? The Minister indicated one would get some level of help to buy to combine with that. Can Mr. Quinlan clarify whether or not the shared equity loan can be combined with the serviced sites fund in an affordable purchase with the Land Development Agency or a local authority?

I have other questions, so I ask that I be put on the list for the third round.