Community Infrastructure Levy (CIL)
Section 5 Monitoring, Reporting and Review if CIL
5.1 As required by Regulation 62, the Council will publish an Annual CIL Report (for the financial year), which shows:
- the amount of CIL collected;
- the amount of CIL that has been spent;
- information on how CIL funds have been spent (i.e. which infrastructure projects, and how much has been used to cover administrative costs);
- the amount of CIL retained at the end of the reporting year.
5.2 The results of the Viability Study have informed the proposed CIL rates, and these results are reflective of current market conditions, which are likely to improve over the medium term. The Council will therefore keep the viability situation under review so that levels of CIL can be adjusted to reflect any future changes.
5.3 The operation and implementation of CIL will be monitored and the Council will commence a review of the charging schedule in 2018, or earlier should the market be perceived to have changed significantly.