Out-Law News | 06 May 2014 | 2:05 pm |
The Council launched a consultation on its DCS (9-page / 236KB PDF) last week. It has proposed to set a rate of £125 per sq m to apply to residential developments at the strategic development site 'Land North of Teversham Drift'. A draft nil rate levy will apply at all other strategic development sites and a draft rate of £100 per sq m will apply to residential developments elsewhere in the district.
For retail developments of up to 280 sq m, the Council has proposed a rate of £50 per sq m. Retail developments of 280 sq m or above will be charged at a rate of £125 per sq m under the proposals. All other types of development will be subject to a draft nil rate levy.
The consultation is open for representations until 7 July. The Council said it expects to adopt CIL in the spring 2015.