Results 341-360 of 1,087,207 for in 'Dáil debates' OR (speaker:Paul Daly OR speaker:Jennifer Murnane O'Connor OR speaker:Pádraig O'Sullivan OR speaker:Cathal Crowe OR speaker:Colm Burke OR speaker:Catherine Connolly OR speaker:Brian Stanley OR speaker:David Stanton OR speaker:Brendan Smith OR speaker:Peadar Tóibín OR speaker:Sorca Clarke OR speaker:Christopher O'Sullivan OR speaker:James Browne) in 'Committee meetings'
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There will be a second round and I will bring the Deputy back in.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I am conscious of people looking in here. There is a lot of back and forth. The Deputy has been trying to tease out the sources of funding and then what is and is not on the State balance sheet. In his opening statement, Mr. Coleman said, "We have already received funding commitments of €2.5 billion.", from Government and half of that is from ISIF. Is that correct?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I am trying to keep it simple. Mr. Coleman said, in his opening statement, that the agency has received a commitment for €2.5 billion. One part of that is a commitment for €1.25 billion. Is that the ISIF money, "Yes" or "No"?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: From ISIF?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There is €2.5 billion from ISIF. On the next part then, did Mr. Coleman say that there is a further €1.25 billion from budget 2025?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: In budget 2025, there is €1.25 billion. Where do the AIB shares fit in there?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Is the AIB shares sum included in either that €1.25 billion from budget 2025 or the original €2.5 billion? Where is it contained?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: AIB, that is okay. Let us hope I can get to the bottom of this. Now the agency has €3.75 billion. Then Mr. Coleman stated, "the Government ... has signalled its intention to raise our total capitalisation to ... €6.25 billion ...". The agency is at €3.75 billion. The agency needs another €2.5 billion, including the provision to borrow €1.25 billion. Mr....
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: So the State will give a further subsidy of €1.25 billion? Is it non-repayable?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There is €3.75 billion in the bag, and with this €2.5 billion needed now, the LDA will borrow half of that. The LDA will receive an investment from the State of €1.25 billion.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Okay. That €1.25 billion will be off-balance sheet because the LDA will be borrowing from the markets.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: On-balance sheet.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Is the LDA borrowing it from the open markets or from the European Investment Bank? Where is it getting it from?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Out of the total sum of €6.25 billion, and there is a bit of hope involved in this from what is being said, there is a €1.25 billion equity investment from the State which is State equity. How much of the total of €6.25 billion will be on the balance sheet and how much will be off the balance sheet?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: It is all on the State's balance sheet? All €6.25 billion is on it?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: That is what we need to know. All of it is on it. I remember raising affordable housing in the Dáil a few years ago. Obviously, in the period of austerity it was difficult to start a conversation about social housing or affordable housing. Cost rental had not even entered the equation here and some of us were trying to get this idea of cost rental going. It is a brilliant idea and...
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There are 1,166 finished, how many are occupied?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There might not be anyone in them yet. How many are occupied?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I understand it takes a while to get it going because the investment is front-loaded to try to get back the rent that will finance the capital over 30 years or whatever way they are done. In some countries it can run over 40 years and different places use different models. There are further units in concept stage or design stage and they are coming through. On the cost of the finished...
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: That is the Cairn Homes project. I looked at figures on this that said a one-bedroom home would cost €1,400 a month to rent, and it was an apartment. A two-bedroom unit cost €1,600 and a three-bedroom unit cost €1,800 per month. Is that correct?