Barry Cowen (Offaly, Fianna Fail)
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31. To ask the Minister for Housing, Planning, Community and Local Government the proposed changes to the social housing current expenditure programme to facilitate larger institutional private investors to become involved in the financing of social housing; and when he expects these changes to be finalised. [9016/17]

Simon Coveney (Cork South Central, Fine Gael)
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The Social Housing Current Expenditure Programme provides a means whereby properties can be built or bought by AHBs with the combined use of State and private funding, and leased by AHBs and Local Authorities from private providers, for the provision of social housing. This scheme is underpinned by a lease and other legal agreements. These provide that rental payments are made by the State over an agreed long-term time period, typically 20 years. In return, the housing unit is made available for social housing purposes. Changes are now being proposed to this scheme in order to facilitate larger institutional private investors to become involved in the financing of social housing. The National Development Finance Agency (NDFA) is acting as financial advisor to my Department in this work and has undertaken market engagement in the development of the scheme. The new arrangements arising from this process are currently being tested to ensure that there is no negative impact arising from how they are viewed and treated in respect of the State’s General Government Balance. Work on the scheme is well advanced, with details expected to be announced in the coming months.