The legislation provides that any Part V monies accumulated by a planning authority should be lodged to a separate account which should only be used as capital for its functions under Part V or as capital by a housing authority for its functions in relation to the provision of housing under the Housing Acts 1966 to 2002. This could include meeting the capital costs of providing childcare facilities in both new and existing local authority housing estates.
A review of Part V was undertaken by my Department in consultation with major stakeholders in 2002 and resulted in a number of changes to Part V, which were introduced in the Planning and Development (Amendment) Act 2002. I am satisfied that Part V is contributing significantly to the provision of social and affordable housing and while I have no proposals for another formal review of Part V at this time, I can confirm that my Department keeps its operation under continuous appraisal.