Build now, pay later
November 19 2008Glasgow City Council today (18/11/08) revealed a range of initiatives aimed at encouraging development and revitalising Glasgow’s economy, the main proposal being that upfront payments usually demanded of companies developing on green space will now be deferred.
By showing more flexibility the authority plans to promote development, safeguard businesses and protect jobs.
A culture of ‘build now, pay later’ will be seen with the council taking greater risk by removing barriers to developments as a means to help projects off the ground. Developers will only be asked to pay after an upturn in the economy.
Council Leader Steven Purcell said that these relaxed measures could be "the difference between a development going ahead or not" and "the difference between someone keeping their job or losing it".
The council will be more watchful as to how its annual social housing grant is distributed; planning to use this year's allocation of £83million to take over unfinished units from the private sector, buy land while prices are low to aid development, and snapping up finished units that developers cannot sell.
Gareth Yule of Ryder Architecture welcomes Glasgow City Council’s plans saying: “This is fantastic news for Glasgow and it's great to see the council taking such a positive, proactive stance. We have seen a real shift in the amount of projects developers are getting off the ground. These plans announced by the council today should really help to kick start the housing and construction market in the West of Scotland. This is an opportunity not only to reinvigorate the economy but to encourage developers to embrace design quality and sustainability.”
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