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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: Okay. The 25% rate of tax is levied on that 60%. Where does the remainder then go? Is all of it eaten up by that return the LDA must take account of?

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 is all concerned with what Mr. Coleman was talking about earlier as the 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: Okay. Mr. Coleman, though, did say that is quite small.

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: Okay. Perfect. I have a couple of other quick questions. Turning to the LDA and land costs, it was mentioned earlier that in projects, and obviously this is particular in respect of Project Tosaigh, if the unit price of land goes up to about €75,000, the LDA will be out of business in terms of that scheme. I presume that is before the STAR investment initiative comes, or is this...

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 refer to what this means for the prospect of there being any inner urban Dublin cost-rental projects. Again, if we were to look at SCSI reports, for example, they posit a unit price for land of about €69,000, including inner urban, suburban and commuter belt areas. Generally, speaking, inside the canals, then, and I know land prices are a tricky thing to quantify, we would not be...

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 would be too expensive for the LDA.

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: No. I am just talking about Project Tosaigh.

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, sure.

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.

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. Again, I know of Clonburris and Citywest, and the unit prices for land there are very competitive. I accept this. It does mean, however, that what Mr. Coleman is kind of saying is that there is unlikely to be a large volume of cost-rental units constructed within the urban core of Dublin, say, just given where land prices are now inside the canals.

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.

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 a quickfire round, in terms of new direct delivery, what is Mr. Coleman's expectation in this regard concerning the number of units to be completed this year, next year and the year after 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: For substantial completion, though, does Mr. Coleman have a notional target for each of the next three years?

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: Does Mr. Coleman have anything he can share with us?

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 that. What Mr. Coleman is saying is that he is not in a position to share with us what the LDA's internal targets are for direct delivery.

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 that, and I can get it from the business plan. I do not want to be rude; I just have limited time.

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: Likewise with Project Tosaigh, is Mr. Coleman in a position to tell us what he believes would be handed over to the LDA this year, next year and the year after in terms of completed or substantially completed units?

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 does Mr. Coleman have a figure he can share with us? It is okay if he does not. It is just so I know what is likely to come from those two delivery streams over the next three years.

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. I am just trying to get visibility on the trajectory of the ramp-up in 2024, 2025 and 2026. Is there something in this regard that Mr. Coleman can share with the committee, even in writing at a later stage?

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 am actually not being awkward. I am just looking to find out what the hope or expectation is for each delivery stream for 2024, 2025 and 2026.

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