Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

I thank the Senator for bringing this matter before the House. I am appalled by the litany of problems she has outlined and by the fact that families are living in such conditions.

I am taking this debate on behalf of the Minister for Finance and would be happy to bring what the Senator has said to his direct, personal attention.

The Minister has been informed by NAMA that the receiver, Farrell Grant Sparks, is in control of this development. NAMA approved the funding of remediation work on this development and the receiver notified it that the works were completed in mid-February 2012. The development is being marketed for sale by Sherry Fitzgerald Carroll.

The Senator may be aware that following publication of the report of the advisory committee on unfinished housing developments in June 2011, the Minister of State at the Department of the Environment, Community and Local Government with responsibility for housing, Deputy Jan O' Sullivan, established a national co-ordinating committee to oversee planning and implementation of remediation programmes in respect of unfinished estates. NAMA is represented on this commission and is proactively engaged in policy processes aimed at the resolution of the problem.

I am advised by NAMA that of the 243 estates categorised by local authorities as the most problematic from a public safety perspective, namely, category four estates, 29 or 12% are controlled by NAMA debtors or receivers. NAMA is funding out of its own resources, through its debtors and receivers, the cost of urgent remediation work, estimated at ¤3 million, and significant progress is being made.

I am also advised that attention is now focusing on 1,500 category three estates, which are considered to be the next most problematic from a public safety perspective. A total of 150, or 10%, of these estates are linked to NAMA debtors. Work is at an advanced stage in terms of identifying the remedial action necessary for each site, as well as agreeing plans and timetables for optimum site resolution.