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New proposals to help fund Lambeth’s local infrastructure

A lot of development is planned for Lambeth over the next 15 years and new homes, shops and offices mean more residents and visitors to Lambeth. Development is great for the borough bringing more jobs and opportunities but it is important that the right infrastructure is in place to support it.

Lambeth Council has published proposals on how much developers will be expected to pay towards infrastructure, like schools, parks and transport. A consultation is now underway and closes on 9 November 2012.

Cllr Lib Peck, Cabinet Member for Regeneration and Strategic Housing, said “This is an exciting time for the borough with lots of new building projects happening or being planned. We want to support development but make sure that developers pay their fair towards transport, schools, parks and other community facilities needed’’.

The new charge, called the Community Infrastructure Levy (CIL), allows the council to raise funds from developers undertaking new building projects. The proposed rates reflect land values across the borough, economic factors and the infrastructure that is needed.

Making sure there are more jobs right across borough is a key priority for the council so new offices outside of Waterloo and Vauxhall would not be charged. The council is also proposing different rates for different areas of the borough with developments in the south charged less than those in the north.

The money raised will help fund a wide range of projects identified by the council, the local community and neighbourhoods.

This is the first statge of consultation. The council expects to publish a Draft Charging Schedule for the next stage of consultation in January 2013 and aims to adopt the Lambeth CIL by Autumn 2013.

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