Peadar Tóibín
Question:715. Deputy Peadar Tóibín asked the Minister for Housing, Local Government and Heritage the average amount, in support, given by the State to an approved housing body to secure a unit. [16485/23]
View answerTuesday, 18 April 2023
Questions (715)
Written answers
The relevant details are being compiled and will be provided to the Deputy in accordance with Standing Orders.
The following deferred reply was received under Standing Order 51.
Funding is available in my Department to support Approved Housing Bodies deliver social housing under a number of delivery streams. The Capital Advance Leasing Facility (CALF) funding is capital support provided to Approved Housing Bodies (AHBs) by local authorities to facilitate the funding of construction, acquisition or refurbishment of new social housing homes. This loan facility can support up to 30% of the eligible capital cost of the housing project, with the homes provided to local authorities for social housing use under long-term lease arrangements known as Payment and Availability Agreements.
The local authority issues the CALF monies to the AHB and the local authority, in turn, recoups same from the Department.
A nominal interest rate of 2% fixed per annum is charged by the local authority on the initial capital amount. Repayments on either the capital or interest are not required during the term of the loan (between 10 and 30 years), although where an AHB chooses to, repayments can be made during the term. At the end of the term, the outstanding capital amount plus the interest accrued, is owed and repayable to the local authority. The remainder of the capital cost is sourced by the AHB through other borrowings, to which the local authorities are not party.
Reassessments of CALF applications are an ongoing process and some of the details might be subject to further change.
The Capital Assistance Scheme (CAS), provides that funding of up to 100% of project costs may be advanced by local authorities to Approved Housing Bodies to provide accommodation for priority categories on the housing waiting list including elderly, persons/families who are homeless and people with a disability.
The average cost per unit provided to AHBs to provide social housing in 2022 under CALF was €72,752 and under CAS was €253,624.
Note 1 : The information above is calculated using the financial information available to the Department at this time.
Note 2 : The Average CALF Amount represents the average amount of CALF funding provided. (A maximum of 30%).
Note 3 : Delivery does not necessarily occur in the year of approval or spend.