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Developer cash secured to support new homes

Report sets out the money used, sought and received from developers

Housing development growth

Over £17m of housing developer cash was collected last year to help fund new school places, road improvements and other important community facilities.

The figure features in a new document setting out how much money Leicestershire County Council has used, sought and received from developers.

This shows that during 2019/20, the council has also:

  • invested nearly £5.5m in creating extra classrooms or refurbishing 22 schools, buying new books and equipment at 25 libraries and wide-ranging road improvements, including traffic calming, cycle schemes and junction changes
  • negotiated another £10m
  • secured £45m of contributions over the next five years – this is allocated to projects and includes over £30m for education

New homes are needed across Leicestershire – with the community facilities required costing many hundreds of millions of pounds over the next 15 years - and the council works closely with developers to agree contributions from them known as section 106 agreements.

Leicestershire is growing – and it’s important we invest in the future.

Securing funds from housing developers is a vital part. Not only does it reduce the burden on the tax payer and the pressure on our budget, it ensures that the right schools, roads and more are in the right place at the right time.

By shaping where hew homes are built, focusing on the environment and putting the right infrastructure in place to support communities and generate employment, we’re building for tomorrow.

The Government now requires all councils in England to publish an (IFS) each year detailing payments made through section 106 agreements and the Community Infrastructure Levy (CIL).

 

Read the Infrastructure Funding Statement 

 

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