The CS (4-page / 685KB PDF) divides the Nine Elms area into two parts. "Nine Elms Residential Area A" covers the part fronting the River Thames and sets a levy of £575 per square metre for residential developments, £100 per sq m for office and retail developments and a zero rate levy on all other developments. "Nine Elms Residential Area B" covers the remainder of the Nine Elms area and will be subject to a £265 per sq m levy for residential developments, £100 per sq m for office and retail developments and a zero rate levy on all other developments.
In the "Roehampton Charging Area" all developments will be subject to a zero rate levy. The levy for residential developments in any other parts of the Borough is set to £250 per sq m and a zero rate levy will apply to all other developments.
The higher charges in the Nine Elms area reflect the high and increasing property values in the area and the need for "major transport upgrades", the Council said.
The CIL collected from developments in either of the Nine Elms charging areas will mainly be used towards funding for infrastructure as part of the Vauxhall Nine Elms Battersea regeneration. The majority of the levy will help fund the planned extension of the Northern Line on the London Underground network, with the remainder to fund infrastructure including a pedestrian bridge and improvements to Battersea Park train station as well as education and health facilities.
The CIL collected from developments in the rest of the Borough will be used to fund strategic transport improvements including the Wandsworth OneWay System, improvements to National Rail and London Underground and Overground stations, state education facilities, public health care facilities, public open space and sports and leisure facilities.
