Acquisitions carried forward from one year to the next are generally reimbursed in accordance with the terms and conditions of the earlier year's Second Hand Acquisitions Programme. This means acquisitions under negotiation or agreed for purchase or under conveyance at end 2024, and which are closed and submitted for drawdown this year, will be reimbursed per the terms and conditions of the 2024 Second Hand Acquisitions Programme.
This approach is standard vis-à-vis the management of multi-annual commitments and expenditure and allows local authorities to progress acquisitions with certainty and confidence from one year to the next, particularly priority acquisitions being progressed in the closing months of a given year for families in the most precarious housing situations.
Similarly, I have recently provided local authorities with flexibility to enter into commitments for 2026 to a value of up to 30% of their original 2025 acquisitions budget. This allows them to commit, pending an agreed programme budget for 2026, some €95 million extra this year for acquisitions that will complete and draw down in 2026. These commitments will be met and reimbursed in 2026 in accordance with the terms and conditions of this year's Second Hand Acquisitions Programme.
A tenant in situ acquisition is a last resort policy tool available to local authorities to accommodate tenants who may be facing homelessness and for whom other tenancy options cannot be found. There is no application process for either landlords or tenants in respect of tenant in situ acquisitions.