Belfast·SPG001 Affordable Housing and Housing Mix·Page 43·5.2.25, 5.2.26
Commuted Sum Calculation Example
Provides a worked example of calculating a commuted sum for a 30-unit scheme required to provide 6 affordable houses, using Department for Communities Total Cost Indicators of £150,000 for two-bed and £175,000 for three-bed houses, resulting in a required contribution of £950,000.
By way of example, a fictional scheme of 30 units, is required to provide 6 affordable houses. Based on NIHE's evidence, this should be provided as a 4 two-bed and 2 three-bed houses. The TCI rate for a 2-bed house is £150,000 and £175,000 for a three-bed house.
Number of units (30) x affordable % as required by policy HOU5 (20%) = 6 units.
6 x TCI = 4 (two-bed houses) x £150,000 + 2 (three-bed houses) x £175,000
Required financial contribution = £600,000 + £350,000 = £950,000
Source — /Users/richardhill/Documents/planning-arch-project/data/documents/belfast/SPG001 Affordable Housing and Housing Mix.pdf