Web2.1 To date circa £9m s106 affordable housing commuted sums have been received and just over £1m has been spent. These receipts are subject to a ‘5 year rule’ which means that the sums must be used within 5 years of receipt or they are returned to the developer. 2.2 Of the sums received to date the ‘used by dates’ are as follow: Weblonger term maintenance (commuted sums). Table 5 . Summary of non-monetary contributions secured during the reported year including: • The total number of affordable ... distribution of development envisaged and collects s106 commuted sums in order to ensure the Plan area is supported by necessary physical, social and
Use of Section106 Commuted Sums to support …
WebSection 106 (S106) Agreements or Unilateral Undertakings (UU’s) are legally binding agreements between Local Authorities and a developer and/or landowner, made under Section 106 of the Town and Country Planning Act 1990. ... Revenue - Section 106 funding for revenue costs (also known as commuted sums) is for expenditure or costs, which ... Weboriginal viability is achieved, to receive some of this ‘excess’ profit in s106 commuted sums. Details of s106 monies are set out in Appendix A to this report. These receipts were received in lieu of on-site provision of affordable housing and can only be used to help deliver affordable housing. In some cases the s106 includes a coffee beans white table
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Webcommit funding from commuted sums only. 3.2. There is a time limitation on the use of some S106 commuted sums. Failure to spend within the time limit requires the return of the funding to the developer. Allocating commuted sums to the above scheme will ensure that the funding is spent within the time parameters. 3.3. WebUnder section 280F. The depreciation limitations for passenger automobiles acquired after September 27, 2024, and placed in service during calendar year 2024, for which the … http://discoversouthsomerset.com/services/planning/section-106-funding-and-how-to-apply/ calysta bates