The Corporation published its draft charging schedule (DCS) (22-page / 916KB PDF) last week. It sets out proposals for the creation of a "Riverside" charging zone in which residential developments would be subject to a rate of £150 per sq m. For residential developments in the rest of the City, the proposed rate is £95 per sq m.
It is further proposed that office developments be subject to a City-wide rate of £75 per sq m. The same draft rate applies to all other uses, except developments for education or health, medical or emergency services which have been set a proposed nil rate levy.
The rates in the DCS are unchanged from the rates set out in the Corporation's preliminary draft charging schedule which it consulted on earlier this year.
In addition to CIL charged by the Council, any developments in the City will also be subject to Mayoral CIL. The Mayoral CIL charge in the City of London is £50 per sq m on all uses except for health and education purposes, which are exempt from Mayoral CIL.
The consultation will be open for comments until 4 October. The Corporation said it expects to adopt CIL in April 2014.
