Results 12,241-12,260 of 15,723 for speaker:Eoin Ó Broin
- Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)
Eoin Ó Broin: Let us say the Government wants to reduce rents to between €700 and €900 equivalent to rents in cost rental projects in other European capitals. Is that financially possible without a subsidy by stretching a loan over a longer period or mixing a European Investment Bank or EIB loan with a soft loan from the State?
- Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)
Eoin Ó Broin: Fifty-five?
- Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)
Eoin Ó Broin: 55 what?
- Joint Oireachtas Committee on Housing, Planning and Local Government: Affordable Housing: Discussion (18 Jun 2019)
Eoin Ó Broin: I have a couple of supplementary questions. To labour the point, on the basis of the Housing Agency's own definition of affordability given at the start, and the generally accepted definition, someone would need a monthly net income of €3,650 or a weekly income of €842. I emphasis that because Enniskerry Road will happen; it is on-site. The next big project will be St....
- 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...