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Local Authority Housing

Dáil Éireann Debate, Wednesday - 5 March 2014

Wednesday, 5 March 2014

Questions (128, 129)

Dessie Ellis

Question:

128. Deputy Dessie Ellis asked the Minister for the Environment, Community and Local Government his views on local authorities establishing housing trusts structured as special purpose vehicles for the purposes of accessing housing finance funding for the purpose of increasing the supply of social housing in their administrative area. [11078/14]

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Dessie Ellis

Question:

129. Deputy Dessie Ellis asked the Minister for the Environment, Community and Local Government if he will consider developing guidelines for local authorities who may wish to establish housing trusts structured as special purpose vehicles for the purposes of accessing housing finance funding for the purpose of increasing the supply of social housing in their administrative area. [11079/14]

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Written answers

I propose to take Questions Nos. 128 and 129 together.

Under the EU Structural and Investment Funds 2014-2020, support will be provided under the European Regional Development Fund for a number of investment priorities within the thematic objectives set out in the relevant EU Regulation. Investment in energy efficiency and renewable energy use in public infrastructure, including social housing, through the thematic objective of supporting the shift towards a low-carbon economy, is among the eligible measures for ERDF co-funding under the Regional Operational Programmes 2014-2020.

My Department has submitted a proposal under the South and East Operational Programme 2014-2020 for the deep retrofitting of 2,000 older apartments and flats in Dublin, Cork and Limerick at an estimated cost of €100 million. It is proposed that 50% of the cost would be met by way of loan finance from the European Investment Bank to a number of Approved Housing Bodies (AHB's) who would undertake the retrofitting works and manage and maintain the properties on behalf of the local authority. The balance of the funding would be met by way of a 25% capital contribution by the Exchequer and a 25% grant from the ERDF.

It is intended that a Special Purpose Vehicle (SPV), representative of the participating local authorities and AHB’s, the Housing Finance Agency and my own Department, will be established to manage the investment programme and oversee its implementation. However, the setting up of the SPV and the determination of appropriate governance and administrative arrangements, as well as consideration of further proposals of this nature, is contingent on the outcome of this proposal.

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