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.

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