Pat V is explained on the Depertment of the Environs. website
http://www.environ.ie/DOEI/DOEIPol.nsf/0/7e4de9071531a3ce80256fa3003b7939/$FILE/partV.doc
Basically, 20% of housing development is for 'social and affordable' housing, this is developed for the LA at cost and sold on to qualifying persons. The LA have their own criteria for qualifying persons (income, etc)
The following people are eligible for the Affordable Housing Scheme:
1. Persons in need of housing, and whose gross household income is within the following limits: a. Single applicants - €36,800 or less b. Joint applicants – Maximum of €92,000 ( to be 2.5 times the main income earner and once times the other income) Persons who have been employed for a minimum period of one year with their current employer
2. First Time Buyers
3. Existing Council tenants who wish to purchase an affordable home (and surrender their council lease). Dublin City Council may give preference to such applicants in the allocations process, subject to a number of conditions. Tenants must be able to provide a clear payment record (without arrears) for the previous six months. Details about this process are included in application forms for each housing scheme.