Paul Arnott’s letter in this week’s Midweek Herald reports Tesco’s extraordinary assertion that they are unable to fulfil their obligation to build 25% affordable housing on land adjoining their site in Seaton.
Tesco attended EDDC’s planning committee last week to ask if they could have the planning conditions changed under their Section 106 agreement to provide 0% (yes, a big fat Zero Per Cent) affordable homes. If this were to be allowed, they might just be able to afford to release the land for development and, if not, it appears they would bank the land instead … in other words, hold it back until such time as conditions were more favourable for them to maximise their profits.
However, if Tesco decide to proceed with the development and somehow managed to turn a profit, then EDDC would stand to benefit through ‘overage’, a policy where the council can claw back some of the profit to swell council funds.
I would love to be proved wrong, but is anyone taking bets on Tesco providing a balance sheet at the end of the project which proves they really did make a profit? If and when the corporate giant hands over their cheque to council officers, I hope it will be a mass media event with the full weight of Tesco’s PR department behind it.
Thanks Tesco! … Every Little Helps
Susie Bond 