Friday, 4 June 2021
Affordable Housing Bill 2021: Committee Stage (Resumed)
I do not propose to accept this amendment. A "long stop date", anticipated to be between 25 and 30 years, will be prescribed before which the housing authority could not seek to realise the affordable dwelling equity other than for breach of specific terms of the agreement. At the end of the period the charge could become enforceable if the affordable dwelling contribution - the State’s equity share - is not bought out by the household. However, this will be at the discretion of the housing authority. It is envisaged that housing authorities would not, save in exceptional circumstances, opt to realise the equity during the lifetime of the purchasers but will instead wait for disposal of the dwelling on the purchaser's estate after death.