Dáil Éireann Debate, Wednesday - 12 January 2011
796 Deputy Ciarán Lynch asked the Minister for the Environment, Heritage and Local Government if the adjusted tenant purchase scheme, which provides a 45% discount, has commenced and if a directive has been issued to local authorities; if he will indicate the duration that this scheme will remain in place; and if he will make a statement on the matter. [1610/11]
View answerAs part of Budget 2011, a new tenant purchase scheme will be introduced to allow local authority tenants to avail of a discount of up to 45% on the market price of a house they are eligible to purchase under the scheme. Under the current scheme a maximum 30% discount is accumulated over a 10 year period at a rate of 3% for each year of the tenancy. The new scheme will allow tenants to accumulate up to a maximum of 45% discount over a 15 year period. Applications under the new scheme will be accepted up until the end of 2011.
The necessary statutory provisions are currently in preparation and I expect to make an announcement on the arrangements for the new scheme in the near future. The current tenant purchase scheme remains in place and will, as previously announced, be replaced by a new scheme based on the incremental purchase model in 2012.
