Results 4,001-4,020 of 15,009 for speaker:Eoin Ó Broin
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: My understanding is that but-----
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: ---- if the LDA publishes the figures, even in some sort of anonymous form, we could make that comparison. The committee gets the AHB and local authority figures from the Department. If the committee had the same visibility from the LDA, it would allow everybody to know definitively.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: Yes, but this is the Oireachtas housing committee. Our job is to scrutinise its work.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: I know.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: This committee would like full visibility on that. Is there some way this can be achieved?
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: Yes, absolutely.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: The agency's one-bedroom and two-bedroom units are also very expensive. The rents are actually higher than the Residential Tenancies Board figures for average rents for existing renters. I live not very far from that location. In fact, I live in a more advantageous location in terms of access to services and public transport. While I live in and rent an older building, the LDA's rents are...
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: But it is locked into a funding model where in order to repay its costs, surely, it has to pay down that-----
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: So Mr. Coleman is saying it is possible?
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: That is not my point.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: Absolutely. My point is a different one. The LDA is locked in for 40 years or more. It has to recover costs I presume; although I will come back to the financing model as I have some questions on where that has gone. In a rental market, market rents are made up of two types of rent; namely, the new asking rents, which LDA rents undoubtedly are below, and existing rents. It is highly...
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: In the short term.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: I referenced all three prices.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: It is not. There is a €20,000 gap between the social housing upper limit and your entry-level rate.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: I appreciate it.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: That neatly leads into my next round of questions. I am trying to understand how that equity model is working. Under the Affordable Housing Act and with the approved housing bodies, they raised debt through the Housing Finance Agency and the cost-rental equity loan they acquire through their turnkey. They charge rent, over 40 to 60 years the debt is paid and then the rent roll generates a...
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: How long is that return paid for? Is it a return to the LDA and held by the LDA or is there a monthly or annual transfer of the return to ISIF or somewhere else in the State? Does the LDA accumulate that return?
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: I have two questions. Obviously that return is quite small in real terms.
- Joint Oireachtas Committee on Housing, Planning and Local Government: Update on Affordable Homes, Public Lands, Strategic Planning and Projects: Land Development Agency (23 Jan 2024)
Eoin Ó Broin: Therefore, it would take quite a lot of cost-rental properties paying quite a lot of rent that would allow the LDA to deliver, for example, a significant increase in units in terms of that recycling. ISIF is giving money to the Minister, who is giving the money to the LDA. That is investment capital from ISIF. What is Mr. Coleman's understanding of what ISIF gets out of this relationship...