The City of London is currently at an "early stage" in its CIL preparation, but aims to have a Charging Schedule in place by January 2014.
CIL is a levy that local authorities can charge on new development. It will facilitate the collection of developer contributions towards necessary infrastructure that is required to support new projects,, including transport and community facilities.
The City of London is currently assessing the Borough's infrastructure needs and looking at development viability, which will inform the Borough in setting the appropriate Charging Schedule rates.
The Borough aims to publish preliminary draft proposals for public consultation in September 2012, following completion of the technical work. Release of draft proposals is planned for early 2013, with a public examination later that year.
"The aim is to have a CIL in place by January 2014," the City of London said. "As development of the CIL is still at an early stage, we have not yet made any assessment of the potential scale of charge, nor the developments which will be subject to charge."
The levy will apply to most new developments, depending on their size and type. The rates are set locally by the relevant authority, in this case the City of London and may include different charges across the local area, or a flat rate for all new development.
The City of London's CIL will be charged in addition to Mayoral CIL, which came into effect on 1 April 2012. Mayoral CIL applies throughout Greater London, including the City. Under the levy, London boroughs are split into three groups, according to viability and the ability of areas to accommodate additional development costs.
