Object
Community Infrastructure Levy - Draft Charging Schedule (Nov 2014)
Representation ID: 1793
Received: 12/12/2014
Respondent: Cogent Land LLP (Cogent)
Representation Summary:
When both the profit margin and professional fees are combined, in appraisal D, the cumulative impact is significant and results in the site becoming unviable. This is important, as if assumptions are set incorrectly (as in the BNP appraisals); the appraisals over-estimate the capacity for CIL.
We would therefore ask that further viability testing is undertaken on all of the typologies, incorporating the points discussed above.
Are the proposed rates informed by, and consistent with, the evidence on economic viability across the Borough?