Sorca Clarke
Question:403. Deputy Sorca Clarke asked the Minister for Housing, Local Government and Heritage the budget for the repair and leasing scheme; and if he will make a statement on the matter. [16576/24]
View answerTuesday, 16 April 2024
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The Repair and Leasing Scheme (RLS) seeks to bring vacant properties back into use as social housing. Under the scheme, property owners receive an interest free loan to bring a vacant property up to rental standards in return for leasing it to a local authority or an Approved Housing Body for between 5 and 25 years. The loan is repaid as a reduction in the lease payment over an agreed term.
€12 million in funding has been allocated for the scheme in 2024.
The maximum funding available under the repair and leasing scheme is €80,000, including VAT, per each individual home completed. For example, where a vacant former shop is converted into 4 homes, a loan of up to €320,000 is available. The scheme is increasingly being used to convert vacant commercial properties into social housing units. Such conversions are generally suitable for reconfiguration into one and two bed units, which continue to form the highest percentage of social housing need.