Oireachtas Joint and Select Committees

Tuesday, 23 January 2024

Joint Oireachtas Committee on Housing, Planning and Local Government

Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency

Mr. John Coleman:

We recycle that return into funding other projects. There is no return paid out to ISIF. The Minister acquires the shares in the LDA and pays us but the Minister gets the money from ISIF. That is how it works. We do not have any relationship with ISIF on the face of it. Theoretically, a dividend could be paid to the Minister out of the cost-rental rents that come in but we have not been requested to pay any dividend and I understand there is no objective at this time for any to be paid. The objective is to recycle it back into developing more cost-rental housing. That is roughly how it works. Any return we achieve is recycled straight back into more housing.