Oireachtas Joint and Select Committees

Thursday, 10 October 2024

Joint Oireachtas Committee on Housing, Planning and Local Government

Housing (Miscellaneous Provisions) (No.2) Bill 2024: Discussion

1:30 pm

Photo of Eoin Ó BroinEoin Ó Broin (Dublin Mid West, Sinn Fein)

Let me try to put that in plainer English. I appreciate Mr. O'Sullivan reading out the legislation. It is really helpful. In addition to the first tranche of capitalisation of €1.25 billion, the LDA had the capacity to borrow another €1.25 billion on the commercial markets. What Mr. O'Sullivan is saying is that the amendment to the Limerick mayoral Act earlier this year allowed for another €1.25 billion in capitalisation and a capacity for the LDA to draw in private or public sector investment in a variety of ways, for example, if it entered into a joint venture and a delivery partner from the private sector brought development capital, examples being if the LDA entered into an arrangement such as Shanganagh Castle or if it were doing social rental on a turnkey basis or St. Theresa's Gardens. Is that what Mr. O'Sullivan means? It is development capital either from the public or private sector where they are partners.

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