Member

The amendments clarify that the public duty is to secure the optimal use of land, not the highest price offered. They do this by defining optimal use and interpreting best consideration by reference to the requirements on the use of the land contained in the local development plan and the relevant national development management policies, as well as being in accordance with environmental principles in the Environment Act 2021. Because securing the optimal use of public land in this way would mean that the value of the land was legitimately constrained, it becomes feasible to develop a site to incorporate economic, social and environmental gains. That is the essence of land value capture: it transforms the viability of great place-making.