Progress under the Land Aggregation Scheme
| Audit Id | 1603727317550 |
|---|---|
| Título | Progress under the Land Aggregation Scheme |
| Tí tulo en el idioma original |
Progress under the Land Aggregation Scheme English |
| Año | 2020 |
| Asunto |
Housing, Property and Construction |
| Tipo |
Performance |
| Tipo de acción |
Performed by single SAI |
| Descripción | The Land Aggregation Scheme (LAGS) was established in 2010 to alleviate the financial burden on lrish Local authorities, linked to the financial crisis in 2008, which affected their ability to repay loans that had been obtained from the Housing Finance Agency for the purchase of land. In return for LAGs funding, local authorities were required to transfer the related land to the Housing Agency which was then responsible for managing and developing the sites. The scheme closed in December 2013. This examination presents an update on the transfer of approved sites from local authorities and reviews progress made by the Housing Agency in developing sites that have transferred. It also provides an overview of LAGS funding to date and considers the impact of the scheme in the context of the level of indebtedness of local authorities. All but one of the 73 sites approved under LAGS had been transferred by the relevant local authority to the Housing Agency by the end of 2019 — the 72 sites transferred had originally been purchased by the local authorities for around €125 million. The report recommends that the Housing Agency should seek to put development plans in place as a matter of urgency for four sites identified in 2018 as being ready for development but for which there are currently no development plans or proposals. The report also recommends that the Housing Agency develops longer term plans for sites considered not ready for development and that it sets a timeframe for future revaluations of LAGS sites. |
| País |
Ireland |
| Materiales |
Audit report English |
| Contacto |
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