Commuted Sum definition

Commuted Sum means the sum to be paid by the undertaker to the local highway authority for the future maintenance of the Non-standard Highway Assets not previously forming part of the local highway which will be transferred to the local highway authority, as calculated in accordance with paragraph 22 of this Part of this Schedule;

Commuted Sum means [ (£)] POUNDS [NOTE – insert appropriate figure in force at the time agreement entered into.] as Index Linked;

Commuted Sum means a sum per affordable housing unit being no less than 60% of the Open Market value at the time of the payment of the commuted sum

Examples of Commuted Sum in a sentence

• This is calculated by dividing the 40% of Development Costs for each type of dwelling in the Affordable Housing Commuted Sum Payment Table by the Unit size m2.of the dwelling displayed in the Payment Table.

• Bellway Homes - Commuted Sum This investment relates to the £0.405m Bellway Homes compensatory commuted sum, which was directed towards sports improvements at North Reddish Park, Crescent Park and Peel Moat Open Space.

• This will be set at the equivalent of 35% the agreed capacity of the site and utilise the Commuted Sum Calculator but careful consideration will be given to the viability and practical implications of conversion and sub-division applications in assessing the level of financial contribution required.

• Market Value for schemes of 1-9 dwellings or moreA.1.4 Transfer Prices and Commuted Sum provisions require a market value to be determined, except for schemes of 1-9 units where the SPD sets out a fixed sum.

• This will be set at the equivalent of 35% of the agreed capacity of the site and utilise the Commuted Sum Calculator but careful consideration will be given to the viability and practical implications of conversion and sub-division applications in assessing the level of financial contribution required.

More Definitions of Commuted Sum

Commuted Sum means the sum to be paid by the undertaker to Transport for London for the future maintenance of any highway assets not previously forming part of the TLRN which will be transferred to Transport for London, as calculated in accordance with paragraph 57 of this Part;

Commuted Sum means such sum as shall be calculated for each phase as provided for in paragraph 9(2) of this Schedule and to be used to fund the future cost of maintenance the County Highway Works.

Commuted Sum means [ (£)] POUNDS [NOTE – insert appropriate figure in force at the time agreement entered into. Note that new SPG on this issue is pending.];

Commuted Sum means a sum calculated at a rate of £58,800 (fifty

Commuted Sum means the sum to be paid by the undertaker to Transport for London for the future maintenance of any highway assets not previously forming part of the TLRN which will be transferred to Transport for London, as calculated in accordance with paragraph 73 of this Part and that calculation must, for the avoidance of doubt, include appropriate provision to reflect any reduction in Transport for London’s future maintenance costs due to the removal (whether replaced or otherwise) of any existing highway assets currently forming part of the TLRN as part, or in consequence, of the authorised development”.

Commuted Sum means a sum calculated at a rate of £58,800 (fifty eight thousand eight hundred pounds) per hectare of the Open Space Land (or such higher figure as may be specified in updated versions of Appendix A to the Good Practice Guide which is in force at the time when a particular area of the Open Space Land is ready to be transferred to the Parish Council) such sum to be increased by the amount (if any) equal to the rise in the Index from the date of this Deed until the date actual payment of the sum and which is to be paid by the Owner to the Council for the future maintenance of the Open Space Land

Commuted Sum means a sum per Low Cost Housing Unit being _% of the Open Market Value at the time of payment of the Commuted Sum (or such other figure as otherwise agreed between the parties in writing), and a sum per Rented Affordable Housing Unit or Shared Ownership Unit being a percentage of the Open Market Value of those units, such percentage to be agreed between the Chief Housing Officer and the Owner at the time of the payment of the Commuted Sum