Dáil Éireann Debate, Tuesday - 25 October 2022
321. Deputy Ged Nash asked the Minister for Housing, Local Government and Heritage the status of the plan under the last quarter of 2022 to increase the borrowing capacity of the Housing Finance Agency to help local authorities finance land acquisition for social housing; and if he will make a statement on the matter. [53381/22]
Amharc ar fhreagraAction 18.5 of Housing for All aims to legislate to increase the borrowing capacity of the Housing Finance Agency (HFA), with a review in two years, to support the Local Government sector in land acquisition and delivery of social and affordable homes.
The HFA plays a leading role in the financing of Local Authorities. Approved Housing Bodies (AHB) and the education sector to deliver housing and student accommodation. When completed, Action 18.5 will provide the HFA with the necessary resources to match the demand for financing over the lifetime of Housing for All.
A primary legislative amendment is required to increase the borrowing capacity of the HFA from €10 billion to €12 billion. I anticipate that this will be achieved by Q2 2023. In the interim the Agency has more than enough capacity to continue to fully fund the delivery programme set down in Housing for All.
