Issue - decisions
Update to the residential unit sums for financial contributions in lieu of affordable housing contained within the adopted Unitary Development Plan (2007)
30/03/2016 - Update to the residential unit sums for financial contributions in lieu of affordable housing contained within the adopted Unitary Development Plan (2007)
PDF 116 KBThat the Cabinet Member for Built Environment agreed to increase the ‘per unit sum’ from 1st April 2016 by 6% reflecting the increase in residential values over the previous year and resulting in a new per unit sums of £304,000 (and £406,000 in the designated higher values areas (see map attached at Appendix B to the report).
It is important to have an up-to-date per unit sum in lieu of affordable housing provision to reflect changes in land prices and residential values over the last year, in line with the Westminster City Plan: Strategic Policies (adopted November 2013) and as set out in paragraphs 3.51 to 3.53 of the Unitary Development Plan (adopted January 2007) in order to ensure on-going and market sensitive financial contributions to the Affordable Housing Fund.