Oireachtas Joint and Select Committees

Thursday, 19 January 2023

Public Accounts Committee

Financial Statements 2020: Housing Agency
Financial Statements 2021: Approved Housing Bodies Regulatory Authority
Chapter 7: Housing Agency Revolving Acquisition Fund
Section 2 Report – Unauthorised Release of Funds from the Central Fund of the Exchequer

9:30 am

Photo of Brian StanleyBrian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

I am asking a very direct question regarding the point where the loan is redeemed or where there is no longer that financial connection. Let us say the 25 or 30 years are up. Can this situation arise? How has this situation arisen? I read that it is most likely a capital assistance scheme coming from the 1990s. It states here that the rent should be an economic rent and tenants are taken off the local authority housing waiting list. Can somebody in the agency or the Department confirm whether that should still be the case, even when they are out of the period of financing? However, the AHB has a 25% nomination right if it offers 95% CAS funding, which could be the case. There is an active search for the paperwork on this at the moment. At the very least, the local authority should have 75%. Do they have that when they are out of the financing period?

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