Dáil Éireann Debate, Thursday - 11 June 2015
217. Deputy Bernard J. Durkan asked the Minister for the Environment, Community and Local Government notwithstanding his positive efforts to date in meeting the local authority housing shortage, if other means might be considered, such as a Government bond to accelerate the public housing programme; and if he will make a statement on the matter. [22913/15]
Amharc ar fhreagraIn November 2014 the Government approved the Social Housing Strategy 2020 which sets out a strategic framework for meeting the State's social housing needs to the end of the decade.
The Strategy includes a commitment to commence work on a financial vehicle, to be known as the Strategic Housing Fund, to raise funding for the social housing sector. The financial vehicle will be established to facilitate the aggregation of private investment into a fund for subsequent lending as project finance.
Work on the development of this new funding model has commenced and is being progressed under the oversight of a group which has been put in place to develop the financial aspects of the Social Housing Strategy. This group - the Finance Work Stream - comprises a range of key stakeholders including the Housing Finance Agency, the National Development Finance Agency and the Departments of Finance and of Public Expenditure & Reform.
Arising from the opportunity offered by the Strategy, a range of developers, investors, financiers and others expressed interest in being involved in the provision of social housing. A protocol was put in place in March 2015 under the auspices of the Finance Work Stream to facilitate individuals and entities seeking to engage with the State to provide investment for the delivery of social housing. A single point of contact for submitting proposals has been established - the Social Housing Proposals Clearing House Group - which operates through my Department, under the oversight of the Finance Work Stream. Interested parties are invited to contact the Clearing House at newfundingmodels@environ.ie.
