Read the Infrastructure Delivery Plan Click to get info
Download documents listed below:
Infrastructure Funding Statement Click to get info
Each year we will publish an updated Infrastructure Funding Statement (IFS) that will set out the previous 12 months income and expenditure relating to the Community Infrastructure Levy (CIL) and Section 106 (S106) agreements and planned expenditure the 12 ahead.
Where will the funding come from? Click to get info
The Council draws on several sources of funding to pay for the infrastructure the Borough needs, with contributions for a single project coming from multiple sources. This partnership approach to delivery has been key to the successful regeneration of areas across London and the UK. The main sources are:
- Community Infrastructure Levy (CIL): Contributions from developers based on new building projects. Because CIL is directly related to the quantum of development that is built, it is hard to predict exactly, but it is expected that CIL could generate up to £111m over the Local Plan period.
- Neighbourhood CIL (NCIL): 15% of CIL receipts (or 25% where there is a neighbourhood plan in place, as at Highams Park) must be spent on addressing additional demands placed on an area by the new development. This is not limited to infrastructure.
- Section 106 (S106): Financial and non-financial obligations can be secured through new developments to mitigate potential impact of the development and help deliver things that a neighbourhood needs such as affordable housing or improved green spaces. As with CIL, it is reliant on new development coming forward and is therefore difficult to predict.
- Council Tax: This funds approximately 50% of the Borough’s services, excluding schools. New homes in the borough will increase the amount of Council Tax collected.
- Business rates: paid on commercial property.
- New Homes Bonus (NHB): A grant paid to councils as an incentive for housing growth. Local authorities need to achieve tax base growth (the amount of economic activity subject to tax) of more than 0.4% before they receive this.
- Private sector funding: The private sector will have a fundamental role to play in the delivery of the infrastructure that Waltham Forest needs. This will take place through development management, regeneration, housing delivery, property and asset management, highways, education and waste functions.
- Utility service investment plans: The Council works closely with infrastructure providers to ensure they incorporate the Borough’s growth into their long-term plans. This ensures that the ‘hard’ infrastructure such as sewers or a sub-station are taken care of by providers, leaving the Council to use infrastructure contributions such as CIL for social and community improvements.
- National grants: for example Heritage Lottery Fund and Sport England. Financial and professional support provided by these bodies can be instrumental in developing shared visions and objectives, allowing us to pursue more ambitious schemes.
Additional funding sources are set out in the full Infrastructure Delivery Plan.