Results 461-480 of 1,090,480 for in 'Dáil debates' OR in 'Committee meetings' (speaker:Máiría Cahill OR speaker:Dara Calleary OR speaker:Matt Shanahan OR speaker:Aindrias Moynihan OR speaker:James Browne OR speaker:Thomas Gould OR speaker:Catherine Martin OR speaker:Ossian Smyth OR speaker:Seán Sherlock OR speaker:Niall Collins OR speaker:Alan Farrell OR speaker:Donnchadh Ó Laoghaire OR speaker:Pearse Doherty OR speaker:Marian Harkin OR speaker:Kieran O'Donnell OR speaker:Frank Feighan OR speaker:Mark Ward OR speaker:Mairead Farrell)
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Surely profit as well.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: No. My question is more that it seems it is totally reliant now on State subsidies and State investment and that there is not that kind of commercial aspect, whether it be borrowing or profits being reinvested, and that it is solely done on a State investment.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Fully, yes.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I totally get that is what it says on the tin but the point that I am trying to make is that they would not be commercially viable without the State subsidies, which are significant. For example, last year the agency said that €5.7 billion was needed in capitalisation. At this moment in time all the capitalisation is coming either from the ISIF or the AIB shares sale. When the LDA...
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: It is operating at a loss.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Did the loss not increase over the past two years?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I understand that profit is not the agency's main motive. It is in my head the fact that we have identified that its funding is off-balance sheet, it is reliant on State subsidies and that we do not have a date in terms of being sure when it will be able to borrow. That raises a bit of a flag here because all the agency's capitalisation realistically is coming from State sources. It seems...
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Then why is it commercial?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: They probably had profits at some point or are operating at losses and increasing losses.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I thank the officials.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I have a few fairly straightforward questions. We identified that the cost of the average unit in Shanganagh Castle is €409,000. The average cost of those purchased from Cairn Homes in Citywest is €435,000. What is the price per square metre for each such purchase? Can Mr. Coleman deal with Shanganagh first because I have it arranged that way in my notes?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I am just trying to get the information.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Some €4,210, okay.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: If those figures can be brought back to the committee, that would be ideal. The Chair may have potentially already asked this but for the Shanganagh properties, what are the rents for the one-bedroom, two-bedroom and three-bedroom properties?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: That is €1,690.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I got confused there. The one-bedroom unit rent is €1,250 and the three-bedroom units cost €1,700. What, then, is the rent for the two-bedroom units?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: For the purchased homes, can Mr. McGuane provide the full market value for the two-bedroom and three-bedroom properties if one wants to own them outright?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: That is not a problem.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Part of this is my last question because I wanted to know how much the two-bedroom and the three-bedroom properties cost in their own right and then I would like to know what that open market value cost is in comparison to delivery. While we are waiting, I had a few other questions in my extensive notes. On the secure tenancy affordable rental, STAR, investment initiative, is that the...