City has millions in ‘unallocated’ planning-gain cash to spend

Bloomberg HQ Exterior

Review will select schemes to benefit from money

The City of London Corporation has amassed a £10.9m war chest of so-called section 106 planning-gain contributions and is launching a review to prioritise how to spend most of it.

A report to members of the authority’s planning and transportation committee says the funding derives from 64 different agreements related to new development in the Square Mile, including Foster & Partners’ Stirling Prize-winning Bloomberg London building.

The payments are designed to offset negative impacts of particular schemes, but the report – written by assistant direcor of public realm Simon Glynn on behalf of director of the built environment Carolyn Dwyer – says the cash is yet to be spent.

This content is available to Registered users

You are not currently logged in.

LOGIN or REGISTER to access this story

LOGIN or REGISTER for free access on selected stories and sign up for email alerts.

Take out a subscription to BD and you will get immediate access to:

  • Up to the minute architecture news from around the UK
  • Reviews of the latest buildings from all corners of the world
  • Our monthly digital edition including stunning photos, building and technical studies
  • Full access to all our online archives
  • PLUS you will receive a print copy of WA100 when it is published in January

Get access to premium content subscribe today