The report was introduced by Deputy Leader (Planning, Investment and New Homes) Councillor Matthew Bennett who highlighted that:
· The benefits would include the payment of significant developer contributions, comprising community infrastructure levy (CIL) and S106 payments, in addition to increased Council Tax and business rates payments.
· That the council had proposed new, higher rates of taxes on private development, so that a greater share of growth would be shared across our local communities.
· Been able to allocate money to support the Council skills strategy and to create better community connections.
· Cabinet would ensure that all parts of the borough benefited from the contributions.
Councillor Nicole Griffiths spoke on behalf of the Green Group and raised concerns in regard to the risk that the CIL and S106 monies would not materialise due to COVID and Brexit. She highlighted that no alternatives or mitigations had been set out in the report. Furthermore, that there was no indication on the repercussions if Capital Revenue streams did not materialise.
In response to some of the questions, Officers and the Deputy Leader advised the following:
· Without the contributions the capital programme would not be delivered and the Council would need to borrow the funding.
· Need to be clear about what would be coming through the pipeline, and that commercial and residential pipelines were very strong and figures in the report were reflective of that.
· There was good progress on the Lambeth Local Plan, looking forward for the next 10 years.
· It was highlighted that the Waterloo development had generated a substantial income and the Council had already received 79 million of the 132 million allocated.
Cabinet made the following observations
· They welcomed this report and that the funding would introduce training opportunities and employment.
· Wards had seen developments across children and young people, page 20 of the agenda, table 12 indicated that all wards prioritised young people, schools, parks, playgrounds, and active travel.
· It was welcomed that the funding would provide more homes within the borough and this was highly encouraged to solve homelessness.
· Streatham had raised £70k of NCIL and the Council had invested £1.5m in the area, Strategic Infrastructure Levy was similar, £380k raised and £3m invested in the area.
1. To note the projected developer contributions forecast to be received over the next five years including income from S106 agreements, to mitigate the local impacts of development, Community Infrastructure Levy (CIL), the majority of which must be spent on infrastructure (build and management), while a proportion (referred to as Neighbourhood CIL or NCIL) can be spent on broader interventions to address the impact of growth. Page 8
2. To agree the 4 CLIPs (Co-operative Local Investment Plans) as an articulation of residents’ priorities; and note Lambeth residents’ 10 neighbourhood priorities (as set out in paragraph 2.3), as expressed through analysis of the 4 CLIPs, Residents’ Survey and the adopted SOWN (South Bank and Waterloo Neighbours) Neighbourhood Plan
3. To note the budget allocations, including those that have been made by the ... view the full minutes text for item 3