Having had a few conversations last week about this recent policy initiative and how to calculate the credit, I was pleased to see that Norwich City Council has just begun a short period of consultation on what it proposes to do, complete with a useful worked example:
a. In a scheme where 26 dwellings are proposed there is a requirement for 33% to be affordable. Equating to 9 affordable dwellings.
b. In this example, the GIA schedule on page 19 has been supplied with the application. This shows an existing vacant floorspace of 865sqm and a proposed residential floorspace of 1607.1sqm. This results in a net increase of floorspace of 742.1sqm.
c. The average floorspace of the proposed residential units is calculated at 61.8sqm. Therefore 12 dwellings can be provided on the net increase in floorspace (742.1sqm / 61.8sqm = 12).
d. Therefore, 4 affordable dwellings need to be provided (33% of the total dwellings (12) provided on the net floorspace increase).
If any of you have come across similar consultations we’d be pleased to hear about them.