The case drew little sympathy from councillors and sparked a debate about capitalism
Councillors reluctantly agreed to allow Marc Black and his company Modernistiq Developments off paying half of the section 106 agreement money on the block of 62 apartments off Eboracum Way.Section 106 agreements, signed between planning authorities and applicants, try to ensure that developments also benefit the local community.
Mr Black said he just wanted to make the money back he had put in and claimed the building would likely be turned into a hotel if he couldn’t finance the project. Mr Black’s case drew little sympathy from councillors, though most agreed it was better to have some affordable housing cash rather than none. The council will also be able to claw back money if the developer makes more profit than expected.
“We’ve been hearing at the Conservative Party conference that if we don’t enjoy and take the risks of market capitalism, we all turn into terribly difficult people and make England a terribly bad place,” she added.
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