Michael McGrath (Cork South Central, Fianna Fail)
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707. To ask the Minister for Environment, Community and Local Government when a new tenant purchase scheme will become operational; the way the discount on the market value of the property will be calculated; and if he will make a statement on the matter. [29567/15]

Bernard Durkan (Kildare North, Fine Gael)
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722. To ask the Minister for Environment, Community and Local Government when the local authority tenant purchase scheme is likely to be announced; and if he will make a statement on the matter. [29675/15]

Paudie Coffey (Waterford, Fine Gael)
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I propose to take Questions Nos. 707 and 722 together.

Part 3 of the Housing (Miscellaneous Provisions) Act 2014 provides for a new scheme for the tenant purchase of existing local authority houses along incremental purchase lines, similar to the schemes currently operating for local authority apartments and certain new local authority houses.

The Government’s Social Housing Strategy 2020 includes a commitment to make the Regulations necessary for the scheme’s introduction, setting out the full details involved. I expect that the new scheme will commence at the earliest possible date following the making of the Regulations which are at an advanced stage of preparation.

The scheme will operate along the lines of the incremental purchase model schemes currently operating, which involve discounts for purchasers linked to household income. The discount will be applied to the purchase price of the house to be determined by the local authority in accordance with the method to be prescribed in Regulations. It is intended to relate the purchase price of the house to its market value with replacement costs also being taken into account.

Full details of the scheme, including the income related discounts available to tenant purchasers, will be set out in the Regulations.