Construction BUSINESS

Damien English, Minister of State for Housing and Urban Renewal, has announced the approval of over €100,000 in funding for four Approved Housing Bodies (AHBs) under the Innovation Fund. This Fund was established, in line with the commitment made in Rebuilding Ireland, to provide AHBs with the means to test innovative ideas on new funding structures and to build capacity.

The four eligible proposals received were submitted by the Irish Council for Social Housing (ICSH), Clúid, Oaklee and Túath Housing. “The Department of Housing has an important role in facilitating AHBs in their work. This complements activities that are already underway within the AHB sector to facilitate collaboration within the sector.”

The ICSH has established a sector-led financial vehicle to allow AHBs to expand and to facilitate the delivery of additional housing units. Clúid is developing a set of procedures, guidelines and templates for mergers and acquisitions. Oaklee is working on securing off-balance sheet funding.

Túath has engaged with external experts to undertake research on two schemes relating to affordable rental. Announcing the approval of these proposals, Minister English said: “The Department of Housing has an important role in facilitating AHBs in their work. This complements activities that are already underway within the AHB sector to facilitate collaboration within the sector.”

The total amount of funding that will be granted through the Innovation Fund is €104,043.