NABCO approved for funding by Housing Finance Agency

Speaking at a Housing Finance Agency (HFA) seminar in Dublin this morning, Minister for Housing and Planning, Jan O’Sullivan TD announced that NABCO had been approved for direct lending by the HFA. The announcement makes NABCO one of the few Approved Housing Bodies certified for lending from this source.

Responding to the news, NABCO Chief Executive, Dr Niall O’Keeffe said, “this announcement will help deliver NABCO’s ambition to provide more co-operative housing in response to the real need being felt in communities across Ireland. But it also confirms that the Association is operating on a solid and sustainable basis”.

The announcement will support NABCO’s plans for expansion, which include the development of a number of sites owned by the Association in Dublin City. Among these will be Ireland’s first co-operative housing development for older people.

Minister O’Sullivan said, “this is a time of reform and growth for the not-for-profit housing sector in Ireland. The financial realities facing the public purse mean that new models of funding social housing supply in the sector need to be developed. This involves collaboration between government, approved housing bodies and external finance providers”.