07 Vauxhall Square, item 6. PDF 626 KB - Lambeth Council
07 Vauxhall Square, item 6. PDF 626 KB - Lambeth Council 07 Vauxhall Square, item 6. PDF 626 KB - Lambeth Council
Holdings on these floorspace figures. 13.10 In the context of the overall level of viability of charges on development being set by the VNEB Tariff,, and the London Mayor’s CIL having priority as adopted CIL, the VNEB DIFS tariff is required to be adjusted to accommodate the application of the London Mayor’s CIL, This means that the actual VNEB Tariff will be adjusted to a lower figure. 13.11 The application is being recommended for approval on the basis of the following package of s.106 planning obligations, which are considered to satisfy the s106 tests set out in the Community Infrastructure Levy Regulations. 13.12 S106 Heads of Terms In line with identified VNEB Tariff requirement an overall tariff charge of up to £12,610,730 will form a baseline financial contribution. This is subject to adjustment based on (a) the deduction of the Mayoral CIL from the tariff due, at approximately £4,043,000. (b) the off setting of some of the works to Miles Street (which qualify for 30% contribution from the Tariff as a Strategic Link improvement as set out Development Infrastructure Funding Study), which equates to £273,000 (c) A contribution shall be made to a sum of £200,000 towards Vauxhall Park. The total VNEB tariff sum payable to the Council is therefore calculated to £8,294,730 13.13 Affordable Housing • A minimum of 21.2% of the proposed housing would be affordable and this would be split between affordable rent and intermediate units. • The proposed split between affordable rent and shared ownership would be 58%/ 42%. • A review mechanism will be triggered one third of the way through private residential sales. If achieved and projected sales values exceed the level required to render the scheme economically viable, 50% of the surplus will be used to provide a commuted sum payment in lieu of additional affordable housing. This commuted sum payment will be capped at £12,740,000, which has been calculated to equate to the shortfall in affordable housing provision against the policy requirement of 40% of units. • The delivery of the affordable housing (Wendle Court) shall commence no later than the completion of the sale of the 135 th private residential
unit. 13.13 Additional S 106 contributions will be sought for items included within the adopted S 106 planning applications SPD, which have not been addressed in the VNEB Development Infrastructure Study: 13.14 Employment and Training • General Employment & Training £120,000 • Local training in Construction £75,000 • A S106 Monitoring and Fee payment of £200,000 • A single contact for all training and employment opportunities • All job opportunities to be advised to the local Lambeth JobCentre Plus as least 96 hours prior to general release • Confirmation that the applicant will work with the council to maximise business, employment and training opportunities for local people and businesses • A reporting regime to monitor the success of the jobs and training strategy. 13.15 Transport and Highways Furthermore, in relation to direct site mitigation in terms of public realm and transport the following requirements will be met as planning obligations • Permit Free for all dwellings • Car Club membership and spaces • Travel Plan • £7,500 should be secured towards the provision of a Legible London sign • £195,000 should be secured towards the provision of a 32 space Cycle Hire station. In addition a licence should be agreed between TfL and the applicant to allow the cycle hire station to be operated and maintained 24 hours a day by TfL. This should come at no cost to TfL. • Public realm improvements on Bondway costed at £490,000. The applicant would undertake these works directly but the cost will still need to be identified in the S106. • Public Realm improvements to Miles Street costed at £790,000. The applicant would undertake these works directly but the cost will still need
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Holdings on these floorspace figures.<br />
13.10 In the context of the overall level of viability of charges on development being<br />
set by the VNEB Tariff,, and the London Mayor’s CIL having priority as adopted<br />
CIL, the VNEB DIFS tariff is required to be adjusted to accommodate the<br />
application of the London Mayor’s CIL, This means that the actual VNEB Tariff<br />
will be adjusted to a lower figure.<br />
13.11 The application is being recommended for approval on the basis of the<br />
following package of s.106 planning obligations, which are considered to<br />
satisfy the s106 tests set out in the Community Infrastructure Levy<br />
Regulations.<br />
13.12 S106 Heads of Terms<br />
In line with identified VNEB Tariff requirement an overall tariff charge of up to<br />
£12,610,730 will form a baseline financial contribution. This is subject to<br />
adjustment based on<br />
(a) the deduction of the Mayoral CIL from the tariff due, at approximately<br />
£4,043,000.<br />
(b) the off setting of some of the works to Miles Street (which qualify for<br />
30% contribution from the Tariff as a Strategic Link improvement as set<br />
out Development Infrastructure Funding Study), which equates to<br />
£273,000<br />
(c) A contribution shall be made to a sum of £200,000 towards <strong>Vauxhall</strong><br />
Park.<br />
The total VNEB tariff sum payable to the <strong>Council</strong> is therefore calculated to<br />
£8,294,730<br />
13.13 Affordable Housing<br />
• A minimum of 21.2% of the proposed housing would be affordable and<br />
this would be split between affordable rent and intermediate units.<br />
• The proposed split between affordable rent and shared ownership would<br />
be 58%/ 42%.<br />
• A review mechanism will be triggered one third of the way through<br />
private residential sales. If achieved and projected sales values exceed<br />
the level required to render the scheme economically viable, 50% of the<br />
surplus will be used to provide a commuted sum payment in lieu of<br />
additional affordable housing. This commuted sum payment will be<br />
capped at £12,740,000, which has been calculated to equate to the<br />
shortfall in affordable housing provision against the policy requirement<br />
of 40% of units.<br />
• The delivery of the affordable housing (Wendle Court) shall commence<br />
no later than the completion of the sale of the 135 th private residential
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