Pyrite board meets over fund to repair damaged homes

Tue, Feb 26, 2013, 00:00

The first meeting of the Pyrite Remediation Board has taken place as the Government prepares legislation to fund the repair of pyrite-damaged homes.

According to the Department of the Environment, the new board will work closely with "a not-for-profit entity to be set up jointly by Construction Industry Federation, Irish Concrete Federation and HomeBond, which will be responsible for detailed implementation of the remediation programme".

The Government is preparing legislation to implement levies on construction aggregates and certain insurance policies. The department said banks would provide initial funding for the scheme but "loan funds drawn down would be repaid over time from the levy proceeds".

Minister for the Environment Phil Hogan said once the board had set up a website, it would "invite applications from eligible homeowners for inclusion in a remediation programme".

The board includes an NSAI representative, a former insurance ombudsman and an as-yet-unnamed stakeholder representative.