Dáil Éireann Debate, Wednesday - 14 October 2009
263 Deputy Phil Hogan asked the Minister for the Environment, Heritage and Local Government the progress local government has had in increasing housing supply via leasing; the estimated cost to the State over a 20 year period; and if he will make a statement on the matter. [36116/09]
View answerTo date, my Department has issued funding approval in respect of some 842 properties under the Social Housing Leasing Initiative. In addition, a further 367 units have received provisional approval subject to additional information being provided to and reviewed by my Department. This gives a total of 1,209 properties that have received approval this year. There are also a number of other new leasing proposals currently being assessed to determine their suitability for inclusion under the initiative.
To support this new initiative, €20 million has been set aside by my Department in 2009 to facilitate the leasing of at least 2,000 units. However, the cost of the scheme in future years will be determined by the number of homes leased, the rental payments involved, and the length of time for which leases are procured. From a value for money perspective, there is a clear benefit to the State, particularly in light of the current constraints on the public finances, in entering into such lease agreements as a greater number of units can be provided to households in need than could otherwise be provided through more traditional supply mechanisms such as construction or acquisition.
