The Vacant Building Credit Lottery
Friday, 16th December 2016
In May 2016 the Vacant Building Credit ("VBC") was reintroduced via the National Planning Policy Guidance ("NPPG"). VBC applies to any building that has not been abandoned that is brought back into any lawful use, or is demolished to be replaced by a new building. VBC is equivalent to the existing gross floor space of relevant vacant buildings when the local planning authority ("LPA") calculates affordable housing contributions - VBC has the effect of reducing the amount of affordable housing ordinarily required.
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