Belfast·SPG001 Affordable Housing and Housing Mix·Page 41·5.2.15
Viability review mechanisms and reassessment
Where affordable housing contributions fall below Policy HOU5 requirements, s76 Agreements must include review mechanisms to allow reassessment of viability over the development lifetime and enable the Council to seek greater policy compliance if economic conditions improve.
Where contributions are reduced below the requirements set out in Policy HOU5, s76 Agreements will incorporate review mechanisms to enable viability reassessment over the lifetime of the development to optimise public benefits through economic cycles. This could allow the Council to seek greater policy compliance should economic conditions allow over the lifetime of the project.
Source — /Users/richardhill/Documents/planning-arch-project/data/documents/belfast/SPG001 Affordable Housing and Housing Mix.pdf