Results 3,461-3,480 of 15,009 for speaker:Eoin Ó Broin

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: Go on.

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: What about the repayments?

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: There would almost be a second tranche of repayments after that.

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: Does that debt outstanding have to be paid as a lump sum or over a period of time? How does it work?

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: Does the EIB provide that kind of loan finance?

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: The State, for example.

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: I have one technical question. To go back to the 25-year EIB loan for St. Michael's, if it had to be paid in full over the 25 years, would that make it difficult to achieve rent below €1,200 a month if the serviced site fund was equivalent to that of Enniskerry Road? Would that be a barrier?

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: I thank the delegates for their presentations. I have a number of different questions for both councils. With regard to the cost-rental and affordable purchase projects, could the delegates give us the current position in the pipeline in terms of design, planning, procurement, the expected construction dates and, ultimately, expected tenanting? I refer, in particular, to those developments...

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: If they are on site at the end of 2020, roughly when will it be completed?

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: If that is the cost of construction coming from the market now rather than in a couple of years, what could it look like?

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: Therefore, it is that figure minus the discount, whatever the council gets from the serviced sites fund, which would be the sale price, for example.

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: I thank Mr. Kenny. I know that some of these are difficult to answer because they are projects that are not going to happen for maybe one to three years, but it is still important that we get a sense of it. This might be an unfair question, but I have a specific question on Enniskerry Road for Ms Keenan. If the entry-level rents were to have been reduced, knowing everything we do about...

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: He was about to answer it and then withdrew from doing so because he had worked out some rough calculations and did not want to commit himself at a committee.

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: Yes, it is significantly in excess of that. It is at €80,000.

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: It would be fair to say that it would be a significant increase to reduce the rents by €300 per month.

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: On rents, there is a broad category of incomes from about €40,000 to up to €75,000. The further up the income ladder, the more able people are to cope with the 30% or 35%, whereas for those hovering at the social housing threshold, it could be quite a large amount. Is any consideration being given to having several bands of affordable or cost rental in a particular...

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: To return to Mr. Kenny, is Dublin City Council looking at a single rent point, or two or three rent points for St. Michael's or other projects? Cost rental is based on the cost but the question is the length of time that the cost is paid down. If one pays it over 20 years, the impact on the tenant is significantly different than if it is over 40 years. I know many of those aspects are not...

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: My two final questions are specifically on St. Michael's. If we take the Housing Agency's definition of affordability, which is about one third of net disposable income, that would mean that for the cohort of people we are talking about entry rents would need to be somewhere in the region of €700 and €900 a month. Do the witnesses share that view and would it be their desire...

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: This committee works on a collegiate and cross-party basis. Are there things it would be helpful for us to emphasise with the Department to make those prices affordable? I take from what Mr. Keegan is saying that the €700 to €900 band would be much more in line with what would be affordable. We are quite happy, as a committee, to try to put pressure on the Department to...

Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)

Eoin Ó Broin: Will Mr. Kenny comment on public consultation?