If you`re looking to develop a property in Wakefield, you may come across the term „section 106 agreement.“ But what is it, and how does it affect your plans? In this article, we`ll explore the basics of section 106 agreements and what they mean for property development in Wakefield.
First, let`s define what a section 106 agreement is. Section 106 of the Town and Country Planning Act 1990 allows local authorities (such as Wakefield Council) to enter into agreements with developers to mitigate the impact of a proposed development on the local community. These agreements can cover a range of issues, such as affordable housing, transport infrastructure, and environmental concerns.
So, how does this apply to Wakefield Council? If you`re looking to develop a property in the Wakefield area, you may need to enter into a section 106 agreement with the council. This will typically happen when planning permission is granted for the development. The agreement will set out the measures that the developer must take to mitigate any negative impact the development may have on the surrounding area.
For example, a section 106 agreement may require the developer to provide a certain number of affordable housing units within the development. Alternatively, it may require the developer to contribute towards the cost of building new transport infrastructure to serve the development.
It`s worth noting that section 106 agreements are legally binding, so it`s important to ensure that you fully understand the terms of the agreement before signing it. It`s also important to work closely with the council to ensure that your development plans align with their requirements.
If you`re unsure whether your development will require a section 106 agreement, it`s always best to speak to a professional. A property lawyer or planning consultant can advise you on the specific requirements for your development and help you navigate the process of negotiating a section 106 agreement with Wakefield Council.
In conclusion, section 106 agreements are an important part of property development in Wakefield. By working closely with the council and entering into a legally binding agreement, developers can ensure that their plans align with the needs of the local community. If you`re considering a new development in Wakefield, make sure you understand the implications of section 106 agreements and seek professional advice if necessary.