Financial viability re-assessment

Meeting: 
MQT on 2013-09-11
Session date: 
September 11, 2013
Reference: 
2013/2920
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

Do you support the use of financial clawback mechanisms in Section 106 agreements in London in those cases where the final sales price of units far exceeds their predicted values and affordable housing provision was limited by 'viability' arguments??

Answer

Answer for Financial viability re-assessment

Answer for Financial viability re-assessment

Answered By: 
The Mayor

Written response from the Mayor My London Plan and associated Housing SPG provide support for the use of 'contingent obligations' which can be applied in the sort of situation which you describe.