‘Govt’s dis­mal progress on hous­ing fund­ing must be ex­plained’

The Corkman - - NEWS -

FIANNA Fáil TD for Cork North West, Michael Moyni­han has called on the Hous­ing Min­is­ter to ex­plain the lack of progress in se­cur­ing new sources of fund­ing for so­cial and af­ford­able hous­ing.

“He said the Gov­ern­ment’s ‘Re­build­ing Ireland’ plan con­tained a com­mit­ment to ‘seek to mo­bilise as quickly as pos­si­ble, all pos­si­ble sources of fund­ing, in­clud­ing fund­ing from the Hous­ing Fi­nance Agency, Ir­ish Strate­gic In­vest­ment Fund, the Ir­ish League of Credit Unions, and Ir­ish Pen­sion Funds to in­crease the sup­ply of so­cial and af­ford­able hous­ing’.

“How­ever, de­spite the Credit Unions say­ing they were ‘cheque ready’ to pro­vide money for hous­ing, the Gov­ern­ment has failed to es­tab­lish any such fund,” said Deputy Moyni­han.

“When Re­build­ing Ireland was launched over a year ago, one of the pro­pos­als con­tained in it was the es­tab­lish­ment of an in­no­va­tion fund to sup­port the de­vel­op­ment of new fi­nan­cial mod­els to help with the build­ing of so­cial and af­ford­able homes. More than 13 months have passed and we are no fur­ther down the road with re­gard to these fi­nan­cial op­tions. What’s worse is that the Ir­ish League of Credit Unions is fully sup­port­ive of the move and has it­self called for the im­ple­men­ta­tion of this fund.”

He said that in they mid­dle of what was “the worst hous­ing cri­sis in the his­tory of the state”, the Min­is­ter and gov­ern­ment was fail­ing to fol­low through on the com­mit­ments con­tained in its own pol­icy.

“The es­tab­lish­ment of the in­no­va­tion fund is be­ing backed by the Credit Union, which has voiced its will­ing­ness to in­vest, but the Gov­ern­ment has still not taken up the of­fer. Min­is­ter Mur­phy needs to ex­plain why his De­part­ment is fail­ing to take ad­van­tage of the fund­ing which is be­ing of­fered, which could be used to build thou­sands of new units,” said Deputy Moyni­han.

“The hous­ing emer­gency is par­tic­u­larly acute here in County Cork. There is a se­ri­ous lack of sup­ply, with fam­i­lies, young pro­fes­sion­als and stu­dents all vy­ing for the lim­ited stock avail­able in the city and sub­urbs. This cri­sis will only be solved by in­creas­ing sup­ply – pre­cisely what the in­no­va­tion fund is de­signed to ac­cel­er­ate. Min­is­ter Mur­phy has se­ri­ous ques­tions to an­swer,” he con­cluded.

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