Dáil Éireann Debate, Tuesday - 27 February 2024
11. Deputy Aodhán Ó Ríordáin asked the Minister for Further and Higher Education, Research, Innovation and Science to provide an update on his Department's work on the borrowing framework for technological universities; the proposed timeline for when such a framework will be published; and if he will make a statement on the matter. [9079/24]
Amharc ar fhreagraIt is anticipated that any borrowing framework for TUs would in the first instance prioritise the provision of student accommodation in line with commitments in the Government's Housing for All plan.
Housing for All contains a number of key actions relating to the development of additional student accommodation supply supported by the State. It also identifies the need to examine financing options and mechanisms for the Technological Sector to provide student accommodation.
The Housing Finance Agency Act 1981, as amended, facilitates lending by the Housing Finance Agency (HFA) to institutions of higher education. This now includes Technological Universities for the purposes of student accommodation specifically.
The development of a specific TU borrowing framework would require approval from Departments of Finance and Public Expenditure and Reform.
My Department and the HEA are working through a large scale programme of work with the TU sector to develop proposals for student accommodation. This work includes an assessment of a range of funding and delivery mechanisms for student accommodation with the sector. We are also in the process of progressing large teaching and learning capital developments with the sector through exchequer funding supports.
The impacts, risks and responsibilities arising from such funding and delivery mechanisms are key considerations in this context. Furthermore safeguards will be required to ensure that projects would not adversely impact the resources or financial position of TUs themselves or the wider public finances. Stated requisite oversight, risk evaluation, project management and attendant governance and regulatory processes also needs to be established.
My officials are continuing to work with relevant Government Departments and Agencies through this assessment process for the Technological University (TU) sector, as part of an assessment of a range of mechanisms for the delivery of student accommodation for the TU sector.
Phase two of the TU study has commenced with Universities due to make initial submissions to the HEA by mid March, with an evaluation and output report due from the HEA in mid-April. This will be followed by a final submission from the sectors in August of this year, and subject to approval at that stage.
Any framework proposal will require approval by Government, my Department will work within the parameters of the public spending code to deliver on state supported student accommodation provision.
