Issue - meetings

S106 and CIL Update Report

Meeting: 04/12/2018 - Financial Strategy Advisory Group (Item 24)

24 S106 and CIL Update Report pdf icon PDF 106 KB

This report provides an update on the funds held under Section 106 (S106) planning agreements and CIL (Community Infrastructure Levy).

Minutes:

The Panel received a report that provided an update on the funds held under Section 106 planning agreements and Community Infrastructure Levy.

The Council currently held funds from Section 106 agreements totalling approximately £2 million. From this balance, £1 million was committed within the capital programme for such items as affordable housing or earmarked for schemes awaiting further approval. Included within this balance was a sum of £103K due to be transferred to Surrey County Council and other organisations as the responsible authority for utilising these funds. The unallocated funds were held within various categories, the lion’s share (approximately £600K) being held for affordable housing.

In relation to CIL, the Council currently held approximately £5.4 million, split across three funds. As at 30 September 2018, the Main Fund (80% of CIL) stood at £4,393, the Community Fund (15% of CIL) stood at £847K and 5% (£209K) was held for the administration of the scheme. Taking into account commitments to date, £209K of the Main Fund and £497K of the Community Fund remained unallocated as at 30 September 2018

Accordingly, the Panel noted the current position on:

(1)          S106 funds held by the authority and

(2)          CIL funds held by the authority