Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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550. To ask the Minister for Housing, Planning, and Local Government if he will consider conducting an audit to date of a public project's (details supplied) financial, physical, social, and economic aspects following the closure of multiple organisations tasked with delivering the project and the previous publication of a Comptroller and Auditor General Report identifying large cost overruns, delays to delivery of physical regeneration and numerous other failings. [51290/25]

James Browne (Wexford, Fianna Fail)
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The Ballymun regeneration programme spanned a long number of years, with Departmental funding first arising in 1999. This substantial programme, which comprised 24 projects, is now complete. The overall programme is estimated to have cost approximately €972 million. Funding of €775.3 million was provided via my Department.

Largely completed by the end of 2013, the Ballymun programme represents the largest regeneration initiative undertaken in the State. The State's investment resulted in almost 2,000 new replacement homes being constructed for the former residents of the original flats. An additional 1,350 homes were provided via private sector investment.

In addition, the programme provided state-of-the-art community facilities, such as the Axis theatre, along with neighbourhood centres to improve services. In recent years the regeneration activity has focused on improving the area’s environmental performance with various green initiatives, new parks and playing pitches. Enterprise and employment generation has focused on the main street and retail parks, with many new employment opportunities created for residents of the area.

An enduring regeneration project must extend beyond physical redevelopment alone. In order to be successful and sustainable over the long term, a regeneration project requires the rebuilding of a community and a strengthening of community bonds. Taken together, the provision of state-of-the-art community facilities, large-scale housing regeneration and new development, and support for local enterprise and employment, have enabled the Ballymun regeneration programme to be completed on a sustainable basis.

I am advised that an audit was conducted on Ballymun Regeneration Limited as part of the Statutory Audit Report to the Members of Dublin City Council 2023. At the time of audit, the financial statements for Ballymun Regeneration Limited were not available for 2023. The company has yet to be liquidated, however, to date, total assets released to Dublin City Council by the company amounts to €567,200,457, which includes 1,694 completed housing units. The 2022 financial statements recorded a nil balance for both assets and liabilities. The financial statements included an audit opinion identifying an emphasis of matter paragraph explaining that the financial statements were no longer prepared on a going concern basis given the intention by the Directors to liquidate the company.

Based on the above information Ballymun Regeneration Limited is fully consolidated into the Council’s AFS in accordance with the Accounting Code of Practice.

Accordingly the audit suggested on the spending of the company has been completed. My Department continues to work closely with DCC on further regeneration projects throughout the city.