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Use of Commuted Sums
Published: 11/06/2015
Finding more flexible ways to provide affordable housing in 天涯社区 will be
discussed at Cabinet on Tuesday 16 June.
A commuted sum is money paid by a developer to the Council where the size of a
housing development requires the provision of affordable housing, but it isn鈥檛
possible to achieve appropriate affordable housing on the site.
Cabinet Members will be asked to approve a policy on how commuted sums are
spent to support the delivery of affordable housing across the County.
Using Section 106 agreements, commuted sums will be earmarked to enable the
provision of affordable housing through a variety of means. These include the
purchase of land for affordable housing; initiatives that support housing
regeneration projects, including offering loans to tackle empty homes; and
financial contribution towards the development of both affordable or social
rented accommodation and low cost home ownership schemes.
Wherever possible, the money derived from commuted sums will be spent within
the same Community Council area as they were generated. The Council will use
the money within five years from the date the sum was received.
Councillor Helen Brown, Cabinet Member for Housing, said:
鈥淎ffordable housing is high on this Council鈥檚 list of priorities, and using
commuted sums in a flexible way proves our commitment to ensuring that all our
residents have an opportunity to access their own home locally.鈥�