Out-Law News | 28 Feb 2014 | 4:24 pm |
The Council launched a consultation on the DCS last month. It has proposed to set different residential CIL rates for four Strategic Development Locations (SDL) and a flat rate for the rest of the Borough.
The proposed rates include £300 per sq m within the 'South of M4' SDL; £320 per sq m within the 'South Wokingham' SDL; £340 per sq m within the 'North Wokingham' SDL and £365 per sq m within the 'Arborfield' SDL. A rate of £365 per sq m has also been proposed to apply to residential developments across the rest of the borough, with a draft borough-wide rate of £100 per sq m for residential institutions and extra care housing.
Retail developments within the existing town and small town district centres will be subject to a nil rate levy under the proposals, with a £50 per sq m retail rate applying across the rest of the borough. A draft borough-wide nil rate levy has been set for all other types of developments.
The consultation is open for comments until 14 March. The Council said it plans to implement CIL by April 2015.