Time for a fairer CPO system, says G15
Responding to a government consultation on reforms to the Compulsory Purchase system, the G15 has backed proposals that will make the system fairer for all parties and deliver more community benefit, including more affordable housing.
The proposals would see reform to the 'hope value' system, which can affect the price of sites and prevent the delivery of more affordable homes and wider community benefits.
The G15's response argues that:
- Capping or removing hope value will increase scheme viability and deliver a fairer system
- It will act as an effective backstop to incentivise all parties to come to a resolution.
- Support not-for-profit housing associations to compete more fairly in purchasing land for public benefit focused development.
With the cost of residential land in London with planning permission increasing by 22 per cent between 2015-2019, high land values are one of the major barriers to the delivery of affordable homes. Reforming the compulsory purchase system will support a fairer system and could be one useful way to address rising values.
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