Eoin Ó Broin (Dublin Mid West, Sinn Fein)
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634. To ask the Minister for Housing, Planning, and Local Government the number of cost rental projects approved by cost rental equity loan; and the number of these homes that will be tenanted in 2021, by local authority and approved housing body. [39526/21]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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As the Deputy will be aware, Budget 2021 allocated €35m for a new Cost Rental Equity Loan (CREL) scheme, under which Government is making loans to Approved Housing Bodies (AHBs) on favourable terms for up to 30% of the capital cost of new homes for Cost Rental. Following a Call for Proposals from AHBs in December 2020, a rigorous assessment process was undertaken by my Department and the Housing Agency. In February 2021 I announced approval-in-principle for the CREL financing this year of 390 new homes at eight sites across Ireland, to be owned and managed by the Clúid, Respond, and Tuath AHBs. These CREL projects are located in Dublin, the surrounding Greater Dublin Area, and Cork City, with each development delivering cost-covering rents for homes on average at least 25% below comparable open market prices.

The first of these CREL-financed homes, located at Taylor Hill, Balbriggan, were formally launched this month and will be the very first homes to be delivered into the Cost Rental sector in Ireland. The 25 homes will be owned, managed and maintained by the Clúid AHB, which is acquiring them with the assistance of a €2.4m CREL loan. 

The cost-covering rents for these Taylor Hill homes will be approximately 40% below comparable open-market prices in the area, ranging from €935 per month for a two-bed terraced house to €1,150 for a four-bed detached house. It is envisaged that these dwellings will be occupied by the first tenants next month.

The necessary financial and commercial arrangements in relation to the other CREL-financed projects are being completed by the AHBs concerned. When these arrangements are concluded, details of the other projects, including specific locations, housing typologies, and cost-covering rents, will be made public.

CREL will accelerate delivery in the Cost Rental sector, in advance of the LDA’s planned future output and the delivery of homes by Local Authorities. The Affordable Housing Act 2021, signed into law on 21 July, together with regulations made thereunder will provide the legislative framework. 

Eoin Ó Broin (Dublin Mid West, Sinn Fein)
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635. To ask the Minister for Housing, Planning, and Local Government the status of the serviced sites fund pipeline for 2021 and 2022. [39527/21]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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To date, my Department has issued two broad-based Serviced Sites Fund (SSF) calls for proposals to local authorities. Funding of almost €200 million has been approved in principle in support of 40 infrastructure projects in 14 local authority areas across 9 counties, which will assist in the delivery of almost 4,200 affordable homes for purchase or for rent.

Details of 35 SSF projects which received approval in principle under the two SSF calls to date are available on the Department's website as follows. 

Call 1  www.gov.ie/en/press-release/dbc55-minister-murphy-gives-the-go-ahead-for-ten-local-authority-sites-for-affordable-housing-under-the-serviced-sites-fund/

Call 2  www.gov.ie/en/press-release/eaf39-minister-murphy-approves-84m-in-funding-for-25-local-authority-sites-to-support-the-delivery-of-approximately-1770-affordable-homes-nationally-under-the-serviced-sites-fund-ssf/.

In addition to these projects, approval in principle has also been given to five further applications for SSF funding, namely, Dublin City Council’s projects in Emmet Road and Oscar Traynor Road, Fingal County Council’s projects in Ballymastone, Donabate, and Hayestown, Rush and Dun Laoghaire Rathdown County Council’s project in Shanganagh.

The Covid pandemic has had an impact on the projected timelines for local authorities, due to the closure of the construction sector earlier this year.  I wish to advise the Deputy that the first SSF projects that will be delivered in 2021 will be the pilot Cost Rental project at Enniskerry Road and the first phase of the Boherboy Road in Cork City. Current projections from local authorities suggest that an estimated 400 affordable homes under SSF will be delivered in 2022.

Contained within the Programme for Government was a commitment to extend the Serviced Sites Fund. In line with this commitment, a review of SSF progress and projects to date was undertaken and, having regard to feedback from local authorities, a number of significant improvements to the scheme have now been agreed and communicated to local authorities. These include: broadening and renaming it the Affordable Housing Fund to reflect it's purpose and function in funding the delivery of affordable housing; expanding the scope of costs covered; taking applications as they are developed on a rolling basis; allowing a direct subvention of the all-in development cost, which may include land purchase costs; and, allowing funding to exceed the current maximum of €50,000 per affordable dwelling on a stepped scale to €100,000 per affordable unit, where the project requires it.

The improved and expanded funding options will greatly support delivery of affordable housing by local authorities. 

Further details on affordable housing delivery will be contained in the new Housing for All Strategy.