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

  • The Development Costs used in the Affordable Housing Commuted Sum Payment Table are based on information provided by the District Valuation Service (DVS) in Summer 2016 and are set out in the tables below.

  • The required financial contribution will be established using the Commuted Sum Calculator described in B) above.

  • The parking area of squares will be subject to payment of a Commuted Sum for future maintenance if adopted by the Highway Authority.


More Definitions of Commuted Sum

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.
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Commuted Sum means [ (£)] POUNDS [NOTE – insert appropriate figure in force at the time agreement entered into. Note that new SPG is pending.];
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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;
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Commuted Sum means such sum calculated as provided for in paragraph 66 of this Part of this Schedule to be used to fund the future cost of maintaining the relevant works;
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Commuted Sum means such sum as shall be agreed following approval of the final design of the Works to be used to fund the future cost of maintaining or replacing the Works;
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Commuted Sum means the sum referred to in the S.278 Agreement
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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
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