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:
- In a scheme where 26 dwellings are proposed there is a requirement for 33% to be affordable. Equating to 9 affordable dwellings.
- 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.
- 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).
- Therefore, 4 affordable dwellings need to be provided (33% of the total dwellings (12) provided on the net floorspace increase).