Ciarán Lynch (Cork South Central, Labour)
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Question 107: To ask the Minister for the Environment, Heritage and Local Government the number of private lease agreements signed and commenced under the Social Housing Leasing Initiative and the length of the lease period; the average monthly cost and the full-year cost of the leases; the number of these properties that achieved the expected 20% reduction as compared to market costs; and if he will make a statement on the matter. [37425/10]

Ciarán Lynch (Cork South Central, Labour)
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Question 114: To ask the Minister for the Environment, Heritage and Local Government the number of unsold affordable housing units where agreements have been signed and commenced under the Social Housing Leasing Initiative and the length of the lease period; the average monthly cost and the full-year cost of the leases; the number of these properties that achieved the expected 20% reduction as compared to market costs; and if he will make a statement on the matter. [37426/10]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
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I propose to take Questions Nos. 107 and 114 together.

Of the private lease units approved, 144 are operational with agreements signed. The average monthly cost for these units is €588 and the total full year cost in respect of the units is €1,015,988.

Varying discounts have been achieved depending on the details of the lease terms. Discounts therefore range from 8% for units where the property owner has retained full responsibility for management and maintenance, to over 33%. A breakdown of the discounts received by range is set out in tabular form below.

Discount levels achieved in respect of operational private leases to

end of Sept. 2010

The duration of the lease agreements also varies depending on contract type (for example where maintenance and management responsibilities are retained by the property owner units can be leased for a period of less than 10 years). A breakdown by lease duration is also set out in tabular form below. Length of operational private leases

Of the affordable lease units approved for use under the leasing initiative, 796 are fully operational with lease agreements signed. The average monthly cost for these units is €331 and the total full year cost is €3,167,557. Discount from market rent is not a consideration in respect of unsold affordable units; rather, my Department recoups to the authority the interest payments liable in respect of the loans taken by the authority to fund the affordable property in the first instance, hence there is no relation to market rent for these units.