The updated €2.2bn mica redress scheme will cover 7,500 properties, including 1,000 social homes.
The scheme will be extended beyond the original scope, which only included homeowners living in their own properties.
Rented accommodation that is registered with the Residential Tenancies Board (RTB) will now be able to avail of redress.
However, this will be subject to the introduction of a clawback mechanism upon re-sale within a set time period, depending on the remediation option used. Opportunities for the State to acquire such rental properties for social housing purposes will also be examined.
Holiday homes will not be included in the scheme.
Will all costs of rebuilding homes be covered?
Housing minister Darragh O’Brien has said the current 90% maximum grant will be increased to a 100% grant.
This will come with a grant cap for where a demolition and rebuild is required.
However, the maximum payment will be increased to €420,000 —
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