Joan Burton (Dublin West, Labour)
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2019. To ask the Minister for Housing, Planning, and Local Government the progress his Department has made along with the National Development Finance Agency on allowing larger institutional private investors to become involved in financing social housing; and if he will make a statement on the matter. [38084/17]

Eoghan Murphy (Dublin Bay South, Fine Gael)
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The Social Housing Current Expenditure Programme provides a means whereby properties can be built or bought by Approved Housing Bodies (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 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.  As part of this process, the proposed changes have been examined by Eurostat.  Work on the scheme is well advanced, with details expected to be announced later this year.