Results 361-380 of 1,106,225 for in 'Dáil debates' OR in 'Committee meetings' (speaker:Ned O'Sullivan OR speaker:Ruairi Ó Murchú OR speaker:Seán Canney OR speaker:Dara Calleary OR speaker:Alan Farrell OR speaker:Thomas Byrne OR speaker:Michael McGrath OR speaker:Cathal Crowe OR speaker:Richard Boyd Barrett OR speaker:Brian Stanley OR speaker:Neasa Hourigan OR speaker:Eoin Ó Broin OR speaker:David Cullinane OR speaker:Charlie McConalogue OR speaker:Mattie McGrath OR speaker:Cian O'Callaghan OR speaker:Neale Richmond)
- 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?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: A one-bedroom apartment cost €1,400, a two-bedroom apartment cost €1,600 and a three-bedroom apartment cost €1,800 to rent per month.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Okay, I am €20 out on some of those but there or thereabouts. Those rents are still relatively high. A three-bedroom apartment is coming in at €430 or €440 a week. That is the weekly rent. The monthly rent is €1,750. It is a high rent.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Even assuming that-----
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I know that. That is in the Wild West and we accept that. Okay. I want to talk about the Shanganagh development in Dún Laoghaire. I have a spreadsheet in front of me. One thing that struck me is you need to have a very high gross income to afford the ones that are for sale. For a two-bedroom apartment, you would need a gross income of €96,795. Accounting for the 10%...
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I can see that is written at the bottom. I want to start at the top. We will take the example Mr. Coleman is talking about. Let us consider someone earning €66,000. The higher the subsidy, the lower the income. Somebody who is earning €66,000 is effectively borrowing the other 30% equity that the State puts in. If the person wants to buy the State out, he or she has to pay...
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I know that.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I am trying to get to how the policy is working or not working.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Did the LDA buy these as turnkey properties?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Who owned the land before the LDA got it?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: The land was free.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There was a nominal fee.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: How much was it? Was it €100 per acre?