Commuted Sum definition

Commuted Sum means the sum to be paid by the undertaker to the local highway authority for the future maintenance of the Non-standard Highway Assets not previously forming part of the local highway which will be transferred to the local highway authority, as calculated in accordance with paragraph 22 of this Part of this Schedule;

Commuted Sum means a sum per affordable housing unit being no less than 60% of the Open Market value at the time of the payment of the commuted sum

Commuted Sum means [ (£)] POUNDS [NOTE – insert appropriate figure in force at the time agreement entered into. Note that new SPG on this issue is pending.];

Examples of Commuted Sum in a sentence

• On developments in designated rural areas with a site area under 0.5 hectares but with a net gain of 6-9 dwellings, the contribution may be in the form of a cash payment equivalent to the cost of providing 30% on-site provision in line with the Council’s Commuted Sum Formula.

• The calculation for a Commuted Sum is shown in Section 7.5 below.

• Bellway Homes - Commuted Sum This investment relates to the £0.405m Bellway Homes compensatory commuted sum, which was directed towards sports improvements at North Reddish Park, Crescent Park and Peel Moat Open Space.

• This is calculated by dividing the 40% of Development Costs for each type of dwelling in the Affordable Housing Commuted Sum Payment Table by the Unit size m2.of the dwelling displayed in the Payment Table.

• The required financial contribution is calculated by using the Commuted Sum (CS) Rate for each area of Monmouthshire and the internal floor space of the dwelling(s) in m2.

More Definitions of Commuted Sum

Commuted Sum means the sum to be paid by the undertaker to Transport for London for the future maintenance of any highway assets not previously forming part of the TLRN which will be transferred to Transport for London, as calculated in accordance with paragraph 57 of this Part;

Commuted Sum means such sum calculated as provided for in paragraph 66 of this Part of this Schedule to be used to fund the future cost of maintaining the relevant works;

Commuted Sum means a sum per Low Cost Housing Unit being _% of the Open Market Value at the time of payment of the Commuted Sum (or such other figure as otherwise agreed between the parties in writing), and a sum per Rented Affordable Housing Unit or Shared Ownership Unit being a percentage of the Open Market Value of those units, such percentage to be agreed between the Chief Housing Officer and the Owner at the time of the payment of the Commuted Sum

Commuted Sum means any monetary contribution to be paid to the Planning Authority in accordance with a Planning Obligation;

Commuted Sum means a sum calculated at a rate of £58,800 (fifty eight thousand eight hundred pounds) per hectare of the Open Space Land (or such higher figure as may be specified in updated versions of Appendix A to the Good Practice Guide which is in force at the time when a particular area of the Open Space Land is ready to be transferred to the Parish Council) such sum to be increased by the amount (if any) equal to the rise in the Index from the date of this Deed until the date actual payment of the sum and which is to be paid by the Owner to the Council for the future maintenance of the Open Space Land

Commuted Sum means such sum as shall be agreed following approval of the final design of the Works to be used to fund the future cost of maintaining or replacing the Works;

Commuted Sum means a sum calculated at a rate of £58,800 (fifty