Oireachtas Joint and Select Committees

Tuesday, 9 March 2021

Joint Oireachtas Committee on Housing, Planning and Local Government

General Scheme of the Affordable Housing Bill 2020 (Resumed): Land Development Agency

Mr. John Coleman:

I will take the last question first. There are three possible schemes, namely, the affordable purchase scheme, involving local authority or LDA sites; the shared equity scheme, which could apply to the market; and the cost rental scheme. As I understand it, it is not intended the LDA will invest in the shared equity special purpose vehicle, SPV. Where we are coming from with the minority interest piece, and I must add the caveat that the details still have to be worked out with the Department, is that the working assumption is, for example, where the LDA builds on land accessed by the LDA from State sources that are non-local authority and it delivers affordable purchased housing on that land, if the market value is €300,000 and the household gets it for €200,000, the equity piece of €100,000 would be held by the LDA. That is our current understanding, but we are working through those details with the Department. I hope that clarifies the Senator's query.

Taking them in reverse order, the idea that section 183-----

Comments

No comments

Log in or join to post a public comment.