Object
Community Infrastructure Levy - Draft Charging Schedule (Nov 2014)
Representation ID: 1790
Received: 12/12/2014
Respondent: Cogent Land LLP (Cogent)
Alternative Viability Appraisals
Each of the points raised above will result in additional development costs for each of the typologies modelled. This will subsequently have a negative impact on the residual land value. We believe that BNP have under-estimated the costs associated with brownfield development across the Borough, which would reduce the capacity for sites to support CIL even further.
Given these concerns, we have produced a set of alternative viability appraisals in order to demonstrate the impact of the underestimation of these inputs on the residual land values (RLV). For the purpose of reaching a consensus on appropriate residential CIL rates, and to enable the Examiner to make direct comparisons between our evidence and that of the Council, we have focused on two points which we feel are of the upmost importance:
*Developer's Profit
*Professional Fees