My Department met with each local authority in early March as part of the annual Housing Action Plan process. The purpose of these meetings was to discuss the direction and content of authorities' proposed Social Housing Investment Programmes, including Part V social housing, and particularly to consider the prioritisation of projects and the reconfiguration of the programme as a whole, so that it can be sustained and consolidated in the changed economic and budgetary circumstances.
On foot of information furnished in the course of this round of Action Plan meetings I am considering the 2009 Social Housing Investment Programme allocations, including funding for Part V social housing, and these should be announced in the coming weeks.
Based on these allocations it will be a matter for housing authorities to finalise their plans for the composition, management and delivery of their programmes, taking into account existing commitments, identifying priority projects and proposals and providing a time line for delivery and a sustainable funding plan for each project and their programme as a whole.
The acquisition of affordable housing under Part V pending its onward sale to affordable purchasers is funded by means of borrowings through the Housing Finance Agency.