Dessie Ellis (Dublin North West, Sinn Fein)
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60. To ask the Minister for Housing, Planning, Community and Local Government if he will provide a breakdown of the 10,000 long-term lease units which would be automatically owned by local authorities and approved housing bodies at the end of the lease term and those that will not automatically be owned by said bodies. [28709/16]

Simon Coveney (Cork South Central, Fine Gael)
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Of the 47,000 social housing units to be delivered under Rebuilding Ireland, an Action Plan for Housing and Homelessness, approximately 26,000 will be constructed, while 11,000 will be purchased by local authorities and approved housing bodies, directly from the market or the Housing Agency, with a portion of these being newly built units. 10,000 units will be leased by local authorities and approved housing bodies, which includes an estimated 5,000 units to be sourced from the NTMA Special Purpose Vehicle and 5,000 properties to be secured from a combination of the Repair and Leasing Initiative that will be piloted shortly, and under long-term lease arrangements by local authorities and approved housing bodies from a range of different sources, not including Part V. This therefore includes a mix of units from the existing housing stock and newly built units.

The 5,000 units to be sourced through the NTMA Special Purpose Vehicle will be owned by the vehicle at the end of the lease term. The vehicle will be established specifically for this purpose and would be able to meet the up-front capital costs of acquiring housing units, the finance for which could be serviced through private rental income or State rental income streams where units are made available for social housing purposes. Units provided by the SPV for social housing purposes would be funded under the Social Housing Current Expenditure Programme through well- established existing contractual arrangements.

The properties sourced through the Repair and Leasing initiative will remain in the ownership of the property owners at the end of the lease term. The remaining units sourced by local authorities and AHBs from various sources are also likely to be owned by private property owners at the end of the lease term.