Housing stock plan

LOUTH Fine Gael TD Fergus O’Dowd has welcomed the announcement that Louth County Council will receive over e11 million under the Housing Capital Allocation – including the highest allocation for new housing outside Dublin.

LOUTH Fine Gael TD Fergus O’Dowd has welcomed the announcement that Louth County Council will receive over e11 million under the Housing Capital Allocation – including the highest allocation for new housing outside Dublin.

Louth has been allocated e8.4m for new housing supply and e2.8m for regeneration and improvements by the Minister for Housing and Planning Jan O’Sullivan TD.

The allocations will support works to improve the standard and energy efficiency of the county’s social housing stock as well as meeting commitments under existing contracts for delivering social and voluntary houses.

“This is a superb and needed investment in our future quality of life in Louth. The need for social housing is still growing after the county’s rapid population expansion and we need to deliver bigger numbers of social housing in different ways,” said Minister O’Dowd.

“A good example of this is the Capital Advance Leasing Facility which provides an up-front equity stake of up to 30% of the property value to approved voluntary housing bodies who raise private finance to acquire or build new social housing units, using leasing payments to repay loans in respect of their equity share.

“The Government have set aside e20m nationally to support this measure and hope to deliver between 3,500 and 4,000 additional social housing units this year. Investment in improving the social housing stock is expected to make some 1,500 properties, which are vacant at present, available for re-letting this year.”