Robert Troy (Longford-Westmeath, Fianna Fail)
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94. To ask the Minister for Finance his views on whether the National Assets Management Agency is meeting its obligations in respect of social housing; and if he will make a statement on the matter. [23940/13]

Michael Noonan (Limerick City, Fine Gael)
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NAMA advises that it has identified in excess of 4,000 residential properties controlled by its debtors and receivers as being available for the provision of social housing. This represents a very substantial contribution by NAMA in the context of the limited number of available residential properties in Ireland controlled by its debtors and receivers and the range of policy measures being adopted by this Government to meet demand for social housing provision. The onus for determining the suitability for social housing of the properties identified by NAMA rests, in the first instance, with the local authorities, which assess, in conjunction with the Housing Agency, the demand for identified houses and apartments by reference to a number of criteria. As soon as local authorities have confirmed demand for units, the Approved Housing Bodies (AHBs) are asked to confirm their interest and to take the practical steps necessary to complete the lease or purchase of the properties.

I am advised that to date demand has been confirmed by the local authorities for 1,574 of the properties that NAMA has made available. Another 502 properties are being evaluated bringing the overall total that may ultimately be deemed suitable to 2,076. The local authorities have confirmed that there is no demand in respect 1,226 of the properties. I am advised by NAMA that, in the time required to assess and confirm demand for units, 806 properties were sold or privately let by their owners or duly appointed receivers.

Of the properties for which demand has been confirmed, 294 properties have been delivered for social housing to date, with contract terms signed in respect of a further 73 properties. This brings the overall total of residential properties completed and committed to social housing to 367 properties, across 19 developments in ten counties. A further 334 are at an advanced stage of negotiation between NAMA debtors or receivers and various AHBs.

I am advised by NAMA that once demand has been confirmed for properties and contracts signed there is no impediment to the early delivery of properties by its debtors and receivers. However, issues such Multi-Unit Development compliance, planning compliance, site resolution and outstanding completion works often need to be addressed before the properties are ready for occupation. NAMA, through its debtors and receivers, is working to resolve these issues as a matter of priority on the identified developments.

I am further advised by NAMA that it established the Special Purpose Vehicle (SPV), National Asset Residential Property Services Limited, for the purpose of acquiring properties from its debtors and receivers in order to speed up their direct leasing to housing authorities. I understand that the Irish Council for Social Housing (ICSH) has recently agreed to the lease template put forward some time ago by NAMA and I expect that this will expedite the early delivery of properties.

NAMA is working closely with the Minister for the Environment, Community and Local Government and the Minister of State for Housing and Planning in relation to this very important initiative and all parties are committed to the maximum possible delivery of residential units in 2013. The Deputy will appreciate that the housing authorities have a key role in this regard and the Housing Agency is working very closely with these bodies to facilitate delivery of units. However, the pace at which units are delivered is not controlled by NAMA but by the Housing Agency/Social Housing Bodies/Local Authorities agreeing to lease. I am satisfied that NAMA has brought the initiative as far as it can at this point in time.