Press release
Notice of appointments to the Board of the Housing Finance Agency (HFA)
From Department of Housing, Local Government and Heritage
Published on
Last updated on
From Department of Housing, Local Government and Heritage
Published on
Last updated on
Minister Darragh O’Brien announced that he has, with the consent of the Minister for Public Expenditure and Reform, appointed the following to the Board of the Housing Finance Agency for the period 17 May 2022 to 16 May 2027:
The Minister has nominated Mr. Frank Allen as Chairperson Designate of the HFA. As is normal practice with such proposed appointments to State Boards, a formal appointment as Chairperson will not be made until the Joint Committee on Housing, Local Government and Heritage has considered the matter.
Earlier this year the Minister has reappointed the following as Directors for a second term effective from 1 January 2022 to 31 December 2024 and the membership of the Board is now 12:
In making the announcement the Minister welcomed the new Board, noting:
“The HFA are a key stakeholder in terms of the future of the housing sector under Housing for All, which has the largest ever housing budget in the history of the State, with in excess of €20 billion in funding through the Exchequer, the Land Development Agency (LDA) and the HFA.
"The HFA is committed to lending €5 billion into the housing sector over the lifetime of Housing for All. This represents 25% of the entire planned investment and illustrates the vital role the Agency will play in delivering on the challenging number of housing units Ireland needs over the next few years.”
Minister O’Brien expressed his confidence that Mr. Allen possesses the requisite skill set and knowledge both in terms of corporate governance and business leadership to lead the HFA into the future. He concluded:
“Given the level of experience and skills this Board undoubtedly possesses, allied to the experience and commitment of the Executive and staff of the Agency, that the future management of the HFA is most certainly in good hands and the significant contribution they have made to the housing sector is set to continue and indeed expand."
Housing Finance Agency plc is a company under the aegis of the Minister for Housing, Local Government and Heritage of Ireland. It was established by the Housing Finance Agency Act, 1981 and incorporated in 1982. Its shares are owned by the Minister for Public Expenditure and Reform of Ireland.
In housing the HFA's function is to advance loan finance to local authorities, the voluntary housing sector and Higher Education Institutions to be used by them for any purpose authorised by the Housing Acts and to borrow or raise funds for these purposes.
The HFA has grown as an organisation since its inception and, with lending to AHB’s Local Authorities and higher education institutions, its current loan book is €5.9 billion. The HFA is committed to lending €5 billion into the housing sector over the lifetime of Housing for All representing 25% of the entire planned investment.