Oireachtas Joint and Select Committees

Wednesday, 12 December 2018

Joint Oireachtas Committee on Housing, Planning and Local Government

Rebuilding Ireland: Minister for Housing, Planning and Local Government.

9:30 am

Photo of Eoin Ó BroinEoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

If one has an EIB loan for 25 years for cost rental units, and one has to pay down that plus the fees for management and maintenance of the properties, one's start-off rent will be at a certain point because one has to pay all the costs over 25 years. If one has a 70% EIB loan and a 30% CALF loan and one pays down the CALF loan over an additional ten years, that will give one 35 years to repay which allows one to have a lower start-off rent. The fear we all have, as with the units on Enniskerry Road, is that the start-off rents in the cost rental units will not be affordable. Could the two not be combined, as is being done with social housing, to make the cost rental unit rents affordable for average income families?

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