Residential developments within the proposed Area A will be subject to a CIL rate of £120 per square metre. The proposed rate for Area B is £210 per sq m. A third area will cover the Elstree Way Corridor with a proposed nil rate levy.
For hotels and retirement homes, the Council has proposed to set a rate of £120 per sq m. Retail developments will be subject to a rate of £80 per sq m under the proposals and a nil rate levy will apply to office and industrial developments.
The residential rates in Areas A and B remain the same as the proposed rates set out in the Council's preliminary draft charging schedule (PDCS) which it consulted on earlier this year. However, the rate for the Elstree Way corridor has been lowered from the £60 per sq m previously proposed.
The rates for retail and hotel developments have also been lowered, from £84 per sq m and £145 per sq m respectively. Care homes had previously been subject to a proposed rate of £163 per sq m in the PDCS.
The consultation is open for representations until 6 September. The Council said it expects to implement CIL in 2014.
