
This new initiative means that for every property built within the defined Urban Development Area, the developer will pay £18,500 to Milton Keynes Partnership for each new house or around £67 for every square metre of commercial floorspace. All told, developers will provide over £310 million which will be used to help fund community facilities and infrastructure. By topping up this funding with money from central government, Milton Keynes Partnership and its delivery partners can ensure that new communities will have the infrastructure they need.
The overarching legal agreement which sets out the facilities required and how they will be provided is the Framework Section 106 Agreement. Each development in the Urban Development Area will be linked to this agreement.
The baseline costs were taken from the 2006 Business Plan.