Arthur Morgan (Louth, Sinn Fein)
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Question 1488: To ask the Minister for the Environment, Heritage and Local Government if his attention has been drawn to a situation where affordable housing due to be delivered under 2007 Part V agreements, will, in some areas be more expensive than current market value houses. [31147/08]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
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The acquisition costs of units acquired under Part V of the Planning and Development Acts 2000-2006 are calculated in accordance with the relevant legislation. They are based on the sum of the site costs calculated at existing use value, actual construction costs as agreed between the local authority and the developer, plus reasonable profit.

It is open to local authorities further to reduce the unit cost, including by using monies they have received as a result of agreements reached with developers under Part V, to ensure that affordable homes continue to meet the needs of the target group concerned.