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

Photo of Eoin Ó BroinEoin Ó Broin (Dublin Mid West, Sinn Fein)
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Exactly. That is my point. The first €1.25 billion and then the second €1.25 billion or whatever it is, that is basically money that goes to the LDA, which spends the money. The LDA makes a very minimal commercial return on that to cover day-to-day costs. That money is never paid down in the sense of a traditional cost-rental debt. Does that mean the LDA will never get what we call the kind of stock maturation surpluses that typically come with cost rental after 40 years plus?