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Other means of reducing risks associated with regeneration must be found for the private sector to participate in it. From the developer/investor perspective, suggestions to do so include (KPMG, 1999): . . The removal of stamp duty on purchases of brownfield sites and schemes completed upon them. Interestingly, the Town and Country Planning Association (TCPA) suggests that stamp duty should go up (by 4%) at sites near transport hubs in order to fund future regeneration (Anon, 2002a). Delaying or deferring corporation tax payments for those developers involved in regeneration projects.

Is any report available? Services  Is there existing availability of services or will diversions be necessary? —Gas —Telecoms/fibre-optic cables —Electricity —Water —Other infrastructure  What are the likely costs of all of the above? Planning  Who is the Planning Authority? Practical problems and solutions, current approaches, techniques and models 21  What is the status of the development plan?  What is the planning history of the site?  Is there existing planning permission (ref. and date)?

24 The location of property: greenfield and brownfield development Contaminated land Any site being considered for development should be regarded as potentially contaminated. The importance of this cannot be overstated and every site investigation should reflect this. The issue of contaminated land is considered in some detail in Chapter 2 of this book and will thus not be discussed again here. a. ‘Brundtland Report’ (World Commission on Environment and Development, 1987) ) —Suggests need to preserve the environment, reduce resource consumption, reduce world poverty – all within a neo-classical economic paradigm; —Defines ‘sustainable development’ as: Development that meets the needs of the present without affecting the ability of future generations to meet their own needs.