What is Section 106 money?
THIS is money that developers of larger sites pay to the council to reduce the impact of the development.
Developers sign a Section 106 agreement as part of their planning permission. This is a legal document that specifies what the money is spent on and where.
For example, Section 106 money is used to make improvements to highways, parks, public transport and schools.
Often the money will only be released once a "trigger" point is reached – for example a certain number of homes being built. Contrary to popular belief, there is not one Section 106 money pot that can be dipped into.
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Section 106 money that has been linked to transport and highways as part of a developer's planning approval, for example, cannot then be used for an education or open spaces project.
4 Comments
by Newquay_Loyal
Wednesday, March 20 2013, 3:52PM
“It could be argued, that 106 money could be used to reduce the cost of housing in the first place, but that would never do. It would cause a downward trend of prices everywhere, to an actual true reflection of what they should be. But there would be hell up don't you know, folk moaning that they had lost money. Perhaps if they bought a house to live in rather than make a profit from, a hell of a lot of the financial mess we are in would not have happened.
The other problem is, that CC have hidden away 106 monies, made it almost impossible to establish exactly how much has been paid and what CC have done with it. Newquay is owed Millions from 106, but will see less than 10% of it due to the failings or negligence of CC.”
by Regennotdegen
Wednesday, March 20 2013, 2:11PM
“The simple answer is 106 Money is bribe money, used by developers to get what they want not what's good for local communities.”
by Phil_lip
Wednesday, March 20 2013, 1:51PM
“When they brought 106 in many years ago it was argued that it would be used in ways that would only benefit developers and councils and not the public, this is what is about to happen in Newquay. It is also what is happening by developers when they include 'green' areas within their development up and down the country. Another great example of this is the development outside Truro that the 106 money is being used to improve the roundabout to the development, and while you may say that is good for the locals, it is saving the developers a fortune they should be spending to allow proper access to their housing development.”
by mygodlesslife
Wednesday, March 20 2013, 12:23PM
“More money should be ring-fenced. It is the only transparent way the electorate has of gauging whether or not the authorities are spending the money they get where it is needed. By all means tweak the boundary, but make it clear to people what the implications are.”