Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

I accept that point completely in terms of making sure the rents are actually affordable for the people at whom the solutions or apartments are aimed. We have a new working group on cost rental in the Department now. I have the European Investment Bank agreement, as I have said. It was signed in May. The agreement states the bank will provide advisory services. The NDFA has done its own financial modelling.

In regard to Enniskerry Road, there are a number of different actors involved, from the Housing Agency and the Housing Finance Agency to my Department and the county council, as well as Tuath and Respond. I am aware of the challenge that exists and certain requests that have been put to the State actors involved regarding the changes they could make that could make the rents even more affordable. They are being considered.

With regard to Saint Michael's Estate, obviously because it is a larger project there is a bigger scale. We will be considering quite a significant amount of European Investment Bank financing in that regard. Hence, we have taken it on as our adviser to make sure we can make real the projections the NDFA modelled in terms of the funding and the price at which it comes. I take the Deputy's point completely and that is why we continue to engage with those involved, particularly in Enniskerry Road. It is now why we have the working group established in the Department.

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