Our policies, plans and strategies - HSG11 Viability Assessment

AspinallVerdi has been appointed by Harborough District Council to provide economic viability advice in respect of the preparation of a new Local Plan.

National policy and guidance requires that the Plan be viable and hence the requirement for an Economic Viability Assessment. This approach of considering the viability early in the plan-making process enables viability to be embedded in the process to inform the Preferred Option and as well as Plan-wide policies such as affordable housing. It will also inform a decision on whether or not to introduce a Community Infrastructure Levy (CIL).

This is the first report (Stage 1). It is an interim report based on a ‘high level’ viability assessment of each of the residential development options in terms of the ability of that option to deliver the likely development infrastructure, expected range of community infrastructure and affordable housing.

The reminder of this report is structured as follows:

• Section 2 – Statutory Requirements:  This section sets out the statutory requirements for the Local Plan and CIL viability including the NPPF, CIL Regulations and PPG website
• Section 3 – Local Plan Context : This section sets out the details of the current adopted Local Plan, the existing evidence base, and the emerging Local Plan policies which will have a direct impact on viability
• Section 4 – Viability Assessment Method: This section describes our generic methodology for appraising the viability of development which is based on the residual approach as required by guidance and best practice
• Sections 5 - Residential: This section sets out our analysis of the residential development market and typologies across the District and our appraisal assumptions and viability results

Further elements of the Economic Viability Assessment will follow to appraise the viability of the preferred option and help to inform a decision on whether or not to introduce a Community Infrastructure Levy (CIL).

Interim Viability Assessment