Dáil Éireann Debate, Tuesday - 18 May 2021
392. Deputy Patricia Ryan asked the Minister for Housing, Local Government and Heritage the number of homes provided in each local authority area under the capital advance leasing facility; the value of these homes in each area; and if he will make a statement on the matter. [26292/21]
Amharc ar fhreagraMy Department operates a number of funding programmes that assist local authorities to work in partnership with Approved Housing Bodie's (AHBs) to construct, purchase and lease new homes and make them available for social housing.
The Capital Advance Leasing Facility (CALF) funding is capital support provided to AHBs by local authorities to facilitate the funding of construction, acquisition or refurbishment of new social housing units. This loan facility can support up to 30% of the eligible capital cost of the housing project, with the housing units provided to local authorities for social housing use under long-term lease arrangements known as Payment and Availability Agreements. 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 local authority issues the CALF monies to the AHB and the local authority, in turn, recoups same from the Department. The remainder of the capital cost is sourced by the AHB through other borrowings, to which the local authorities are not party.
The tables attached reflect the number of homes delivered in each Local Authority area, under the Capital Advance Leasing Facility by year and the total associated CALF funding for these units, for 2018-2020, inclusive.
* Please note that these figures do not include PART V units. Owing to the nature of the CALF, delivery of new housing does not always arise in the same year as expenditure and projects delivered under phased programmes may cross a number of payment periods.
