Developers' tram tax falls short of total
THE "trams tax" paid by developers along the route of the £545 million project has raised only about half of the amount that is needed.
New figures showed 108 developers have committed just 12.5m in contributions to the cost of the tramline which will bring direct benefits to their schemes.
The amount falls well short of the 25m which the council had set for developer contributions.
The "trams tax" is based on an expectation that builders or developers on sites within a ten-minute walk of the route will make a financial contribution.
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