The Capital Loan and Subsidy Scheme (CLSS) operated from 1991 to 2009 and provided capital funding to Approved Housing Bodies (AHBs) to meet the cost of constructing accommodation for social housing use. The local authorities borrowed the funding they provided to the AHBs from the Housing Finance Agency (HFA) over a 30-year period. CLSS Funding was provided to the AHBs by way of a non-refundable loan, subject to compliance with the conditions of the scheme.
Approximately 10,200 homes have been delivered through the CLSS. However, following a review, a decision was taken in 2009 to wind down the scheme, which has now terminated. The loan charges (Principal and Interest) remain to be paid on a bi-annual basis (January to June & July to December).
The table below sets out the number of social homes provided, the number of loans drawn down, the original loan amount advanced and the balance owing on the loans at the end of June 2023.
|
LA
|
No. of SH Units
|
No. of Loans
|
Original Advance Amount
|
Balance at 30/06/2023
|
|
Carlow County Council
|
254
|
71
|
€26,000,076
|
€9,470,565
|
|
Cavan County Council
|
48
|
46
|
€7,577,925
|
€4,190,571
|
|
Clare County Council
|
131
|
89
|
€13,830,697
|
€5,871,117
|
|
Cork City Council
|
249
|
71
|
€36,894,889
|
€21,761,775
|
|
Cork County Council
|
585
|
174
|
€87,286,131
|
€38,995,091
|
|
Donegal County Council
|
420
|
140
|
€49,697,965
|
€21,837,114
|
|
Dublin City Council
|
1670
|
242
|
€334,033,747
|
€160,456,996
|
|
Dun laoghaire/Rathdown County Council
|
372
|
31
|
€88,693,512
|
€48,704,381
|
|
Fingal County Council
|
598
|
55
|
€107,234,792
|
€59,787,936
|
|
Galway City Council
|
182
|
25
|
€19,335,234
|
€7,921,901
|
|
Galway County Council
|
178
|
84
|
€20,720,741
|
€9,212,917
|
|
Kerry County Council
|
174
|
89
|
€24,589,984
|
€12,422,091
|
|
Kildare County Council
|
469
|
190
|
€54,794,583
|
€24,582,737
|
|
Kilkenny County Council
|
137
|
62
|
€11,601,074
|
€2,711,923
|
|
Laois County Council
|
271
|
196
|
€42,212,240
|
€21,982,957
|
|
Leitrim County Council
|
44
|
10
|
€7,377,885
|
€2,424,925
|
|
Limerick City and County Council
|
212
|
90
|
€23,977,513
|
€10,513,921
|
|
Longford County Council
|
200
|
77
|
€29,423,341
|
€15,163,511
|
|
Louth County Council
|
694
|
211
|
€83,222,447
|
€41,270,472
|
|
Mayo County Council
|
193
|
36
|
€25,525,405
|
€13,754,493
|
|
Meath County Council
|
180
|
128
|
€19,176,927
|
€7,339,752
|
|
Monaghan County Council
|
76
|
49
|
€9,586,444
|
€4,581,396
|
|
Offaly County Council
|
270
|
142
|
€28,879,678
|
€12,104,970
|
|
Roscommon County Council
|
25
|
7
|
€2,870,331
|
€1,100,571
|
|
Sligo County Council
|
237
|
100
|
€20,664,964
|
€7,879,868
|
|
South Dublin County Council
|
992
|
109
|
€147,033,682
|
€66,773,345
|
|
Tipperary County Council
|
522
|
155
|
€77,532,692
|
€38,923,742
|
|
Waterford City and County Council
|
427
|
110
|
€42,058,000
|
€14,766,885
|
|
Wexford County Council
|
284
|
136
|
€26,601,011
|
€9,243,214
|
|
Wicklow County Council
|
85
|
26
|
€8,060,232
|
€2,983,298
|
|
Total
|
10179
|
2951
|
€1,476,494,142
|
€698,734,435
|
The table below shows the maturity profile of the loans at the end of June 2023.
|
Expiry Year
|
Original Advance Amount
|
Balance at 30/06/2023
|
No. of Loans
|
|
2000
|
€1,345,922
|
€0
|
1
|
|
2022
|
€1,712,591
|
€0
|
13
|
|
2023
|
€8,426,406
|
€169,777
|
52
|
|
2024
|
€17,616,877
|
€1,135,028
|
89
|
|
2025
|
€22,671,552
|
€2,568,901
|
94
|
|
2026
|
€24,320,452
|
€3,019,318
|
109
|
|
2027
|
€21,660,284
|
€2,868,808
|
86
|
|
2028
|
€13,453,175
|
€3,189,699
|
62
|
|
2029
|
€32,218,553
|
€8,863,405
|
76
|
|
2030
|
€66,663,942
|
€20,732,557
|
165
|
|
2031
|
€88,711,209
|
€28,504,583
|
163
|
|
2032
|
€92,506,619
|
€33,185,654
|
176
|
|
2033
|
€114,618,612
|
€47,548,128
|
266
|
|
2034
|
€95,835,296
|
€43,578,908
|
171
|
|
2035
|
€85,537,619
|
€37,268,826
|
158
|
|
2036
|
€81,264,624
|
€42,305,990
|
183
|
|
2037
|
€157,005,853
|
€86,232,672
|
190
|
|
2038
|
€239,849,276
|
€138,314,551
|
296
|
|
2039
|
€139,046,824
|
€83,795,366
|
201
|
|
2040
|
€92,036,932
|
€59,543,162
|
145
|
|
2041
|
€44,510,859
|
€29,876,847
|
116
|
|
2042
|
€13,052,147
|
€9,072,021
|
48
|
|
2043
|
€8,845,250
|
€6,388,249
|
36
|
|
2044
|
€6,807,373
|
€5,145,713
|
29
|
|
2045
|
€2,605,484
|
€1,894,050
|
12
|
|
2046
|
€2,202,791
|
€1,803,731
|
5
|
|
2047
|
€1,201,626
|
€1,017,327
|
3
|
|
2048
|
€131,229
|
€115,255
|
2
|
|
2050
|
€550,620
|
€514,930
|
3
|
|
2051
|
€84,145
|
€80,977
|
1
|
|
Total
|
€1,476,494,142
|
€698,734,435
|
2,951
|
The Capital Advance Leasing Facility (CALF) funding is capital support provided to Approved Housing Bodies (AHBs) by local authorities to facilitate the funding of construction, acquisition or refurbishment of new social housing units. This loan facility can support between 25% and 30% of the eligible capital cost of the housing project, with the housing units provided to local authorities for social housing use under long-term lease arrangements known as Payment and Availability agreements. A nominal interest rate of 2% fixed per annum is charged by the local authority on the initial capital amount. Repayments on either the capital or interest are not required during the term of the loan (between 10 and 30 years), although where an AHB chooses to, repayments can be made during the term. At the end of the term, the outstanding capital amount plus the interest accrued, is owed and repayable to the local authority. The local authority issues the CALF monies to the AHB and the local authority, in turn, recoups same from the Department. The remainder of the capital cost is sourced by the AHB through other borrowings, to which the local authorities are not party.
My Department does not hold the loan agreements under CALF, as the loan agreement, is between the local authority and the relevant AHB. Accordingly, information on the number of CALF loans and associated due date, is held by the relevant local authorities. The value and the term of each CALF loan varies by project.
CALF was introduced in 2011, with a small number of AHBs only availing of the facility from 2011 to 2016, delivering a total of 1,456 social homes through the scheme. Since 2017, the number of homes delivered using the CALF scheme has increased significantly year-on-year. Homes delivered through the CALF scheme since 2017 is as follows:
|
CALF
|
2017
|
2018
|
2019
|
2020
|
2021
|
2022
|
|
Homes Delivered
|
1,221
|
1,834
|
2,995
|
2,454
|
2,799
|
3,407
|
The first loan due for repayment under the CALF scheme is in 2028.
