Examples of VBC in a sentence
GeneralAetna will process any payments in accordance with the terms of each VBC arrangement.
VBC will not be automatically applied: the intention of VBC is to ‘incentivise brownfield development’7 and the re-use of vacant buildings so only relevant buildings will be considered as being able to generate VBC.
Where the Council considers VBC applies the developer will be offered a financial credit equivalent to the existing GIA of the vacant buildings (see paragraph 4.2).
Upon request, Aetna will provide additional information regarding our VBC arrangements.
VBC would then reduce the requirement for affordable housing based on the amount of vacant floor space being brought back into use or being redeveloped.
Applying VBC at the outset would reduce the affordable housing contributions and potentially increase the financial returns to both landowner and developer.
The Council may also use Council Tax, Business Rates or Electoral Register records in their VBC assessment.
Where a proposal provides a reasonable return to the landowner, a competitive profit to a developer and is policy compliant, VBC should not be applied as the development would be sufficiently incentivised and viable.
All requests for VBC will be included in the Planning Committee report.
A report of VBC charges to a plan sponsor will be available on a quarterly basis.