(Report of the Director of Place and Sustainability. To be introduced by the Cabinet Member for Economic Development and Social Inclusion). The report provides an update on the progress in preparing for the introduction of Haringey’s Community Infrastructure Levy (CIL) and seeks approval for public consultation on the Draft Charging Schedule.
Minutes:
Cabinet considered a report, introduced by the Cabinet Member for Economic Development and Social Inclusion, which sought approval to proceed with public consultation in April-May 2013 for four weeks on the Draft Charging Schedule for Haringey’s Community Infrastructure Levy (CIL).
As detailed in the report the Cabinet Member for Economic Development and Social Inclusion advised that in order to ensure that the building of affordable housing remained viable the rates for the borough had been set at a level slightly below maximum threshold of viability identified in the report conducted by BNP Paribas.
RESOLVED:
Alternative Options Considered
In order to fully assess the potential for higher revenues that CIL may bring towards the cost of essential infrastructure, we have modelled the following options for CIL charging tariff since the July 2012 consultation draft:
Ø Reassess the level of CIL tariff in certain wards in the east with a view of increasing it, especially south east Tottenham.
Ø Consider higher rates for employment land which may be subject to change to residential use
Ø Include development types in the CIL schedule that we have not considered before. This would require an evidence base as to why these developments are not included in the CIL.
To assess the viability of these approaches, further evidence was sought from our consultants BNP Paribas. They confirmed that the first two options were not viable and therefore are not currently being pursued. The third option yielded two new development ... view the full minutes text for item 399