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Tue 05 May 2007Local councils collect €60m in lieu of social housingLocal authorities have collected more than €60 million from developers in lieu of social housing while between 40,000 and 50,000 people are on their housing waiting lists, writes Barry O'Halloran.Planning law requires builders to hand over 20 per cent of residential developments at a big discount to local authorities to provide social and affordable housing. But many councils have instead availed of an option to accept compensation instead of completed homes or land.