Greenspace arrangement
"Our Greenspace Arrangement provides a sustainable management regime that enhances each property and gives the development economic stability."
The agreement with the developer can be outlined as follows:
- Greenbelt takes ownership of the open space either in phases to suit the construction/layout programme, or all at the same time. We then manage and maintain it to an agreed specification.
- The developer ensures that Greenbelt's role and financial requirements are a condition included in the title for each plot. This means that each homeowner will contribute equally towards the cost of Greenbelt's management and maintenance known as the ‘Annual Management Charge'(AMC). The initial level of the AMC is agreed with the developer before any plots are sold.
Greenbelt's relationship with the homeowner is two-fold:
- Greenbelt is obliged to maintain and manage the open space to the agreed specification. This may vary for each development.
- Each homeowner is obliged to contribute equally to the cost of the management and maintenance of the open space land owned by Greenbelt.
The AMC is subject to agreed indexation and this is included in the agreement/title of each plot.