Oireachtas Joint and Select Committees

Wednesday, 25 November 2020

Public Accounts Committee

2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 34 - Housing, Planning and Local Government.
Local Government Fund
Chapter 2 – Central Government Funding of Local Authorities.

4:30 pm

Photo of Catherine MurphyCatherine Murphy (Kildare North, Social Democrats)
Link to this: Individually | In context | Oireachtas source

With regard to value for money in the long term, we pay 90% of current market rent, reviewed every four years, in cases where outside maintenance is carried out by the developer, who owns the unit at the end of the period. I calculated that if rent is paid on 2,600 long leases over 25 years, the State will pay €865 million and own nothing.