A Wellow landowner will stump up £80,000 towards affordable housing on the Island so it is easier for the brownfield land to be developed.
Since gaining planning permission to build 16 homes on Lee Farm four months ago, landowner Steve Cowley has tried to sell the site to a developer who will build the housing which was recently approved.
Issues preventing the sale of the site
However, having spoken with prospective Island developers, it became evident there were issues preventing the sale of the site on the Wellow Main Road.
Speaking at the Council’s planning committee meeting on Tuesday, officers said due to increasing costs of material, labour and fuel, as well as the potential financial risks associated with brownfield land, Mr Cowley was having difficulty selling the site.
Developers, they said, were saying it was unviable to build what had been approved while still making a profit.
£80,000 towards affordable housing
To try to alleviate some of the pressures holding back potential developers, Mr Cowley proposed to pay the financial contribution towards affordable housing at the start of building works instead of the developers doing so at the end of the scheme.
The move would now see Mr Cowley pay £80,000 towards affordable housing elsewhere on the Island, instead of the previous potential of £27,120 by developers.
However, members of the planning committee were concerned by accepting the £80,000 they may be missing out on more money further down the line.
Officers said that would be unlikely as the rising costs risks undermining the development.
Price: Pay within three months of sale
Cllr Matt Price said the council could be throwing away £50,000 if it did not approve the change, but said the money should be provided before work on the site starts.
Cllr Price proposed the council asked Mr Cowley to pay the money three months after the sale of the site is completed or whenever the development starts, whichever is sooner.
He also requested the legal agreement be signed within six months of the meeting or the matter would come back before the planning committee.
Indexed linked payment
Cllr Chris Jarman asked that there be a cut-off date for the contribution to be paid.
Officers agreed the contribution could be index-linked which would see the amount to pay adjusted in line with the retail price index.
This article is from the BBC’s LDRS (Local Democracy Reporter Service) scheme, which News OnTheWight is taking part in. Some alterations and additions may have been made by OnTheWight. Ed
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