COMHAIRLE CONTAE ÁTHA CLIATH THEAS
SOUTH DUBLIN COUNTY COUNCIL

MEETING OF SOUTH DUBLIN COUNTY COUNCIL

Monday, December 10, 2007

HEADED ITEM NO. HI 22

PROPOSED RAISING OF LOANS - HOUSING PURPOSES

The County Council is empowered to borrow from the Housing Finance Agency for the purpose of carrying out its functions under the Housing Acts.

It has been recommended by the Agency that a borrowing resolution should be a general resolution approving the borrowing of funds for housing purposes rather than specific resolutions for individual loan types.

Approval is now being sought for authority to raise loans to a limit of €145,000,000

from the Housing Finance Agency plc for any purpose authorised under the Housing Acts during the year ending 31^st December 2008, and including:

• Shared ownership scheme.

• Rental subsidy scheme for voluntary housing groups.

• House purchase loans.

• Borrowing for the purpose of refinancing housing loans.

• Short Term Borrowing / Bridging Finance for Affordable Housing.

• Any other purpose authorised under the Housing Acts.