Eligibility Criteria - Private Rightsizing Scheme

• Eligibility Requirements
• Conditions of Scheme
• Conditions of Tenancy
• Acquisition of Properties by Limerick City and County Council - Terms
• Financial Contribution paid by the Applicant to Limerick City and County Council

Eligibility Requirements

1. All individual applicants, including all joint applicants, must each be over the age of 55 to qualify.
2. Applicants must be living alone. Applicants with dependents living at home will not be deemed eligible.
3. Applicants must be currently living in a house of a size too great to meet their housing needs and must be capable of independent living.
4. Applicants are to be aware that there will be a financial contribution to become a tenant of Limerick City and County Council. This financial contribution is outlined in the next section and is deducted from the sales proceeds of the house you live in, if purchased by Limerick City and County Council.

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Conditions of Scheme

Subject to the eligibility requirements being satisfied and subject to the Council’s approval of the acquisition of the applicants existing dwelling, Limerick City and County Council will consider applications for letting under the Private Rightsizing Scheme with the following conditions:

1. The property must be located in Limerick City and County Council’s administrative area.
2. Admission to the Financial Contribution Scheme shall only be offered to a home owner if Limerick City and County Council wishes to purchase a home owner’s property and is able to source a vacancy in Older Person’s accommodation for the applicant.
3. Limerick City and County Council cannot purchase any house with a value in excess of the price limit set out by the Department of Housing, Local Government and Heritage for acquisitions (Basic Unit Costs in operation at the time).
4. Limerick City and County Council shall only consider purchase of properties at a discount for homeowners who are eligible for Older Persons’ accommodation (i.e., over 55 years).
5. Successful applicants will be placed on the Financial Contributions List until a suitable vacancy arises.
6. Homeowners who are housed must pay a housing rent in line with the Differential Rent Scheme.
7. The Financial Contribution (contribution to become a tenant) Limerick City and County Council will apply is:
   • 55-80+ (one flat band contribution regardless of age) - 1/4 of net proceeds of sale of dwelling
8. Properties may be subject to inspection after the application has been assessed. If the dwelling is found unsuitable by Limerick City and County Council or if it requires substantial repairs Limerick City and County Council may not purchase the property and an applicant will not be eligible for the Financial Contribution Scheme.
9. Candidates will be subject to Garda vetting checks.

Limerick City and County Council reserves the right to grant or not to grant a letting of a dwelling under the Private Rightsizing Scheme.

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Conditions of Tenancy

The decision to grant a tenancy of a dwelling under the Private Rightsizing Scheme shall be subject to the following conditions:

• The sale by the applicant of his/her/their existing dwelling to Limerick City and County Council subject to the applicant’s title being to the satisfaction of the Council
• The payment of a financial contribution to the City Council
• The execution of a Tenancy Agreement
• The payment of weekly rent set under the Differential Rent Scheme
• Agreement by the Applicant to waive their statutory entitlement (if any) to purchase the tenanted dwelling.

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Acquisition of Properties by Limerick City and County Council - Terms

Applicants should note that where Limerick City and County Council approves the acquisition of their properties the following terms apply:

• Limerick City and County Council will arrange for an Independent Valuation of the Property.
• The applicant’s property will be valued at the gross current market value i.e. what it would sell for if it were in good repair.
• Where the property is in good repair, the current market value will be the figure on which the financial contribution to be paid by the Applicant to Limerick City and County Council will be calculated.
• Where the property is in poor repair, an amount equal to the cost of all works which would have to be carried out to the property to bring it into good repair will be deducted from the current gross market value leaving a nett current market value figure on which the financial contribution to be paid by the Applicant to Limerick City and County Council will be calculated.
• Net proceeds of sale shall exclude:
  • The discharge of any existing mortgage or charge on the applicants property
  • The discharge of any legal fees incurred by the applicants in relation to the sale of the applicants property and the discharge of any existing mortgage or charge thereon
  • Any and all other legal fees incurred in relation to the completion of the application and the tenancy agreement
• Applicants are advised to engage a Solicitor and obtain legal advice in respect of the Private Rightsizing Scheme prior to the completion and submission of an application under the scheme

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Financial Contribution paid by the Applicant to Limerick City and County Council

The financial contribution payable by the Applicant will be calculated by Limerick City and County Council as follows:

Age/Financial Contribution

55-80+ (one flat band contribution regardless of age): 1/4 (25%) of net proceeds of sale of dwelling

NB: Applicants are advised to engage a solicitor and to obtain legal advice in respect of the Private Rightsizing Scheme prior to and in respect of the completion of the application form.

NB: Applicants and their Solicitors are advised to read these details carefully prior to completing the application form.

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