Clúid funds the delivery of its mission through a number of different funding methods which may involve different sources of income.
Our sources of funding include:
- Rent paid by tenants. Clúid levies rent on all tenants. Rent is based on a proportion of household income and is always affordable.
- Revenue funding from government. Under a Payment & Availability Agreement, Clúid receives an availability payment from government. For this Clúid undertakes to make the properties ‘available’ to people from local authority housing waiting lists. This payment is utilised to fund the repayment of the debt finance taken out on the properties being made available.
- The Management and Maintenance Allowance. This is paid annually by local authorities in respect of projects completed under the now-defunct Capital Loan and Subsidy Scheme Clúid receives this subsidy to contribute to the cost of housing management and maintenance. This allows the maintenance of affordable rents to our tenants.
- Loans from financial institutions. Clúid funds part of the acquisition and construction of housing with loans from financial institutions.
- Loans from government. A long-term government loan (covering a maximum of 30% of the funding required) plays an important role in leveraging private finance. This loan is facilitated under the Capital Advance Leasing Facility.
- Government funding under the Capital Assistance Scheme facilitates housing people with particular needs. A small proportion of Clúids properties are purchased through the Capital Assistance Scheme which is a government grant for the provision of housing for older people, people with a disability, and those who have experienced homelessness.
Clúid currently does not fundraise from the general public.