Borough-wide Developer Levy Funding Pot Approved
Move will see money from Nine Elms projects spent in other areas
The resurfacing of Alton Road was partly paid for by the developer levy. Picture: Wandsworth Council
August 2, 2024
Wandsworth Council is to put all money collected from the levy on developers into a central funding pot.
Transport infrastructure, schools, sporting and community facilities and open spaces across Wandsworth could be in line for investment from the fund.
The council’s Finance Committee has approved a new initiative to create just one borough-wide ‘investment pot’ which will allow infrastructure improvements to be made across the borough as a whole rather than in the specific areas where developments are taking place.
Until now, infrastructure funding contributed from new developments in Nine Elms have been uniquely ringfenced for spending in that immediate area only. This new approach to un-ringfence Nine Elms SCIL will support a borough-wide approach to infrastructure investment and bring it in line with other CIL-collecting authorities nationally. The committee's approved recommendations will now go before the Council's Executive.
Simon Hogg, Leader of Wandsworth Council said: “We want to ensure that funding we collect from developers is used to benefit growth and renewal across the whole borough, so for example the developer funding from Nine Elms will help to improve transport infrastructure in Roehampton and the wider area.
“This is the first important step in rebalancing investment and maximising the benefits of any local development for residents across all of Wandsworth. These changes will help make it a better place for everyone regardless of where they live or work.”
Wider investment in better roads and pavements, sustainable travel initiatives and public transport infrastructure will enable people to travel more safely and quickly around the borough, as well as generating a better environment for growth and economic opportunities.
The council collects funds known as the Strategic Community Infrastructure Levy (SCIL) from developers as part of their commitments on a new building project. The funds are then spent by the council on making improvements to local infrastructure which will address the impact of these new developments on local services and existing infrastructure in the area.
The Neighbourhood Renewal Fund was set up earlier this year to prioritise delivery of neighbourhood projects using developer levies collected through the Neighbourhood Community Infrastructure Levy (NCIL).
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