Eoin Ó Broin (Dublin Mid West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

1076.To ask the Minister for Housing, Planning, and Local Government the current limit of equity that can be provided under the affordable purchase scheme, both in cash terms per unit and as a percentage of the market value of the unit; and if there have been any individual schemes that have been provided with more funding that the current limits permit. [31865/24]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

Regulation 6(4) of the Affordable Housing (No. 2) Regulations 2023 prescribes that the affordable dwelling contribution made by a local authority for the purposes of Part 2 of the Affordable Housing Act 2021 shall be not less than 5% and not greater than 40% of the market value of the home concerned.

Part 2 of the Affordable Housing Act 2021 applies where a local authority provides an affordable purchase scheme to facilitate the supply of homes at discounted affordable prices to eligible persons.

Local authorities are enabled to develop such affordable purchase schemes in a number of ways. The Affordable Housing Fund is available through my Department to assist local authorities by way of a grant subsidy towards the cost of developing affordable purchase homes. Revised arrangements under Part V of the Planning and Development Act 2000 also now enable the planning dividend available to local authorities to be utilised for affordable housing purposes. The revised Part V arrangements came into operation on 3 September 2021 and are now beginning to have practical effect on housing developments coming forward for planning permissions.

The administration of affordable purchase schemes is a matter for local authorities in accordance with Part 2 of the Affordable Housing Act 2021. I am satisfied that all funding approvals in place under the Affordable Housing Fund comply with the market value limits prescribed by Regulation 6(4) of the Affordable Housing (No. 2) Regulations 2023 as set out above.