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:

On the Deputy's last question, if one looks at the Affordable Housing Bill, as drafted, which we will work towards, where the LDA develops on LDA sites, the regulations will dictate at what level and at what price point purchasers can buy into. I understand that will be related to their incomes but that is to be worked out and teased out. That is the path to travel. We would hope we would recoup our construction costs through those mechanisms because we would then take those proceeds and put them into more development. We accept there may be cases where that will not be possible. If something costs €250,000 to develop and a person is only able to contribute €220,000, this might leave the LDA holding that interest in the home and it might have to wait until it gets it back, which might be awhile. That is something which will have to be teased out with the regulation. It is something we are contemplating at the moment. To me, the core point of this seems to be to make it available to household to buy it at a rate that is affordable to it.

The first point was about compulsory purchase. Is that correct Deputy McAuliffe?

Comments

No comments

Log in or join to post a public comment.