Dáil Éireann Debate, Tuesday - 27 June 2023
349. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage the total capitalisation provided to the LDA to date; the LDA's total borrowing capacity; and the plans the Government intends to make regarding these arrangements. [30611/23]
View answerThe Land Development Agency Act 2021 (the Act) was signed into law in July 2021. Following commencement of the provisions of the Act, the LDA was established as a wholly commercial Designated Activity Company (DAC).
Under section 30 of the Act, the LDA have access to equity funding of up to €1.25bn from the Ireland Strategic Investment Fund (ISIF). The LDA have to date been capitalised by a total of €625million from ISIF having received funding totalling €100m on its establishment as a commercial DAC, and having accessed a further €525m, paid over two tranches, in H1 2023.
As provided for under section 28 of the Act, the LDA have the ability to borrow a further €1.25bn.
Housing for All recognises that additional resourcing will be required to meet the increased level of activities envisaged under the plan to assist in funding the pipeline of housing, including on additional State lands, and accelerated housing through Project Tosaigh. This additional funding will be subject to an amendment being made to the LDA Act which will be brought forward as required.
