Thomas Gould
Question:272. Deputy Thomas Gould asked the Minister for Housing, Local Government and Heritage the reason Cork County Council has been limited to only taking a €75,000 equity share in Rathealy Close, Fermoy. [23681/24]
View answerTuesday, 28 May 2024
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In the case of support for affordable purchase homes, subventions of €50,000, €75,000 and €100,000 from the Affordable Housing Fund per home are in place towards the development costs of affordable homes. The higher subsidy funding (€100,000) relates to schemes involving high density development and typologies in urban areas (which tend to have higher construction costs).
The approved funding of €75,000 is the level for the scheme density relevant to the specific scheme referenced. This will enable Cork County Council to offer the homes to eligible applicant households at a price that they can afford of up to 22% below their market value. The local authority will retain an equity stake in the homes, commensurate with the discount below market value.