Dáil Éireann Debate, Wednesday - 12 July 2017
477. Deputy John Curran asked the Minister for Housing, Planning, Community and Local Government his views on developing an off balance sheet special purpose vehicle to allow an organisation (details supplied) and similar bodies to invest substantial funds in social housing; and if he will make a statement on the matter. [33460/17]
View answerThe Rebuilding Ireland Action Plan for Housing and Homelessness emphasises the need to look at new ways of funding social housing delivery, in particular the need to provide structural, funding and policy supports to increase delivery of social housing by Approved Housing Bodies.
In that context, it states that support will be provided to an Irish Council for Social Housing/sector-led new special purpose vehicle, involving investors which could potentially include the organisation referred to.
Funding for the Irish Council for Social Housing totalling some €49,000 to support this initiative was announced on 15 May 2017. The funding is being made available to the Council to establish a sector-led financial vehicle to allow AHBs to expand and facilitate the delivery of additional housing units. This funding was approved under the AHB Innovation Fund and was part of a total amount of €104,043 that was allocated across a number of AHBs. The Innovation Fund was established, in line with the commitment made in Rebuilding Ireland, to provide AHBs with the means to test innovative ideas on new funding structures and to build capacity.
