Joe Conway (Independent)
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I move amendment No. 1:

In page 3, between lines 10 and 11, to insert the following: "Local authorities funding

2. A minimum of 20 per cent of the increased borrowing capacity shall be reserved for local authorities with populations under 150,000. The Housing Finance Agency shall consult with these authorities on a quarterly basis to identify priority housing needs and barriers to accessing finance. The funding shall be reviewed annually and be subject to approval from the Minister."

This is a very short and reasonable amendment. As many of us here in this House who are directly responsive and freagrach do chomhairleoirí, answerable to councillors, know, and the Minister of State and I know from our time on Waterford City and County Council, very often councillors complain that they do not get clearly accessible and readable information on housing matters from central government and the quangos, such as the Housing Finance Agency. In an effort to make this a little bit more accessible to the public, but in particular our local authority members, I propose this first amendment. It ensures transparency and accountability in how public funds are distributed. It allows communities like Waterford to assess whether they are receiving equitable support compared with the other regions and empowers local advocacy if disparities arise. It also aligns with best practices in public finance oversight.

John Cummins (Waterford, Fine Gael)
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I thank Senator Conway. Unfortunately, I have to oppose the amendment he has tabled as local authorities are subject to an annual borrowing cap of €118 million, which is set by the Department of Housing, Local Government and Heritage, and reserving €300 million, or 20% of the proposed €1.5 billion as is set out for in this legislation, for smaller authorities would exceed this cap and create a misalignment of existing financial controls. Demand from local authorities for HFA lending does not reach the level suggested in 2025 to date, with €39 million being lent to 28 local authorities. This suggests that the proposed reservation would almost certainly go unused, leading to inefficient capital allocation and inadequate availability for approved housing bodies.

The Housing Finance Agency, in and of itself, does not lend to local authorities for social housing as this is grant-funded in full from the Department of Housing, Local Government and Heritage. The HFA engages regularly with local authorities, both individually and through representative bodies to ensure they are aware of financing opportunities where they arise. Additional mandated quarterly consultations would duplicate existing efforts and add administrative burden, potentially diverting focus from core lending and financial operations requiring annual review and Ministerial approval, introduce additional bureaucracy, which would result in delays to lending, slow down the delivery of homes by other delivery partners, and reduce the HFA’s ability to be responsive to urgent housing needs. Consequently, I have to oppose the amendment.

While understanding the thrust of what the Senator trying to achieve, I think he will see from what I have set out, the challenges of the amendment and what it would mean for the HFA in terms of advancing the required capital to approved housing bodies to do the job it is doing, while also adding an administrative burden that we want to try to reduce and streamline from a Government perspective.

Joe Conway (Independent)
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In deference to what the Minister of State has said and informed the House of, I withdraw the amendment. It will be likewise with amendment No. 2.

Joe Conway (Independent)
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I move amendment No. 2:

In page 3, between lines 10 and 11, to insert the following: "Quarterly report on developments

2. Within three months of the commencement of this Act, the Housing Finance Agency shall be required to publish quarterly reports detailing— (a) the total loan disbursements by county and local authority, (b) project types funded, (c) average loan size repayment terms, and (d) environmental and energy efficiency ratings of funded developments.

Pat Casey (Fianna Fail)
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When is it proposed to take the next Stage?

PJ Murphy (Fine Gael)
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Now.

Pat Casey (Fianna Fail)
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Is that agreed? Agreed.

Pat Casey (Fianna Fail)
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When is it proposed to take the next Stage?

PJ Murphy (Fine Gael)
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Now.

Pat Casey (Fianna Fail)
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Is that agreed? Agreed.

John Cummins (Waterford, Fine Gael)
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I thank Senators for their attention to this albeit short but important Bill over the past couple of days to ensure that we have an increase in the statutory borrowing limit from €12 billion to €13.5 billion, which I am advised will facilitate the construction of an additional 5,500 homes by approved housing bodies across the country. It is a very significant albeit short piece of legislation. I thank the House for its consideration.

Joe Flaherty (Fianna Fail)
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I did speak to the Bill last night, but I thank Senator Conway for working in the spirit of the Bill, and particularly at a time when we face such a crisis in housing. A number of speakers last night drew attention to the issue of regional and technical colleges and their inability to access funding. There were positive soundings last night that there would be a move in relation to that. It is a significant concern for people across the Chamber. The Minister of State’s colleague, the Minister of State, Deputy O'Sullivan, did take note of it last night and indeed seemed enthused that something may happen. If the Minister of State could apply similar vigour, it is to be hoped we will see something happen on that because it has been transformative in terms of opening up finance for approved housing bodies, as the Minister of State said himself. A secondary challenge and offshoot of the housing crisis has been student accommodation, and this is one way we can alleviate it.I thank the Minister of State and his officials for their efforts on this important legislation.