I am satisfied there is adequate scope within the original €325 million budget, coupled with the flexibility to enter into commitments that might only materialise in 2026, to support all acquisitions that can be contractually completed and drawn down by local authorities before the end of this year.
Accordingly, where local authorities have indicated to my Department that they are likely to fully commit and draw down their original allocation this year, but could progress additional acquisitions if further funding were available, they have been approved do so where these acquisitions can be contractually completed and fully drawn down from my department in 2025.
I have also written recently to local authorities authorising them to enter into acquisitions that are more likely to close and fall due in 2026. Local authorities can now enter into financial commitments for 2026 to a value of up to 30% of their original 2025 acquisitions budget. This will allow priority acquisitions to continue in the closing months of 2025, with certainty on funding availability in 2026, should such purchases not complete this year.