Mr. John Coleman:

As the Deputy knows, the Affordable Housing Bill as currently drafted provides the mechanism for the LDA to make affordable purchase homes available on that site. I will use the St. Kevin's Hospital site, which might be an easier example because Dundrum is a very high-density site that will be mainly apartments. They are expensive builds and it is an area of high rent pressure so I imagine there will be a very high proportion of cost rental at Dundrum. There might be more affordable purchase homes on the St. Kevin's Hospital site, which will be lower density given its topography - it is on the side of a hill - and its location. On the affordable purchase scheme there, the LDA would incur the cost of developing the affordable purchase homes. My understanding of the way the Bill is currently drafted is that the difference between the market value and what someone can afford would be held as an equity piece, quite probably by the LDA, that there would not be a coupon attaching to that equity and that people would repay that in due course whenever they are able to afford to pay it. The core point is that their cost burden for that home, in terms of servicing that mortgage by the regulations that are brought in, should be affordable to them.