As the housing development is a social housing project, Southwark Council has agreed to use some of its developer contributions (CIL) to offset the extra costs of building above the future tube tunnels.
To restart the development, the council plans to cover the additional foundation costs incurred by the developer, Hexagon Housing, through a grant agreement with a clawback mechanism should the development not go ahead.
#housing-development #bakerloo-line-extension #southwark-council #social-housing #funding-mitigation
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