Jan O'Sullivan (Limerick City, Labour) | Oireachtas source

I am not sure we need legislation, but we need action which is what we are doing on the committee. To answer the Deputy's question, NAMA issued some information yesterday. There are 110 houses on which contracts have been agreed with regard to NAMA units. A special purpose vehicle has been established which is speeding up the process. We hope we will get about 500 over the line this year but that will depend on how fast the process can be moved. The special purpose vehicle is a means whereby NAMA can gather units that are deemed suitable by local authorities into this financial vehicle, so that they will then be available for the local authorities and voluntary housing sectors to take them over. We are therefore expecting progress. I would like to see it happening faster because it has been very slow, particularly in the early stages. However, we are getting some traction now, which is to be welcomed.

With regard to site resolution plans, the intention is that by the next meeting of the unfinished housing developments committee we will have such plans in place for nearly all the estates. We will then be at a point where we can make a decision on the future of estates where nobody is living and where, in some cases, houses are only half built. We will have a plan in place to finish the others, be they under receivers, NAMA, local authorities or private ownership. The intention is to move this process on as quickly as possible. We have made quite good progress in the last year.

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