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Budget leaves many questions unanswered

Published: 2010-07-09 15:14:13

What was not in the June budget was arguably more important for the regeneration community than what it contained.

TIF still on hold: it will not be until the Government publishes its White Paper this summer that local authorities will know what options are on the table for investing the benefits from business rate growth in new developments. It is also expected that the White Paper will include simplified planning consents process for areas where there is a case for business growth.

Commenting on the budget, the British Property Foundation (BPF) pointed out the need for more innovative thinking if local authorities are to restart regeneration projects.

"Tax increment financing (TIF) represents one approach that the Government should wholeheartedly approach. TIF allows the upfront cost of infrastructure to be paid for out of the rate income that new developments generate." read more

Financing regeneration: call for government action

Published: 2010-07-09 15:07:02

SocInvest has sent the following open letter to Grant Shapps, minister for housing and local government at the Department for Communities and Local Government:

"We should like to draw the Minister's attention to an important set of recommendations proposed by leading members of the regeneration community.

For the nation to continue to reap the economic benefits from regenerating urban communities, there needs to be a radical new approach to the way in which local authorities finance redevelopment projects.

According to an exclusive study undertaken for SocInvest 2010, June 16, London, the UK's premier regeneration finance and funding event attended by 170 senior executives, an overwhelming majority believe that new ways have to be found to finance regeneration programmes and that changes in government policy will be key to enabling this to happen.

•96% believe that regeneration depends entirely or partially on new approaches to raising finance.

•95% say that new government policies are key to enabling these new finance approaches. read more

Delegates delighted with SocInvest 2010

Published: 2010-07-09 14:16:12

SocInvest 2010 took place last month and, overall, was very well received. Comments from delegates and speakers included:

•75% said that the event met their personal objectives "extremely well" or "well"; the remainder said "quite well".

•76% said that the coverage of regeneration funding issues was either "extremely good" or "good".

•69% said that they took away ideas and information that would help them with funding initiatives. read more

CCURV: 'the only show in town'

Published: 2010-06-17 10:02:24

Jamie Kerr, director of regeneration and education at John Laing, used the recent SocInvest regeneration finance conference to highlight the successes of his company's urban regeneration vehicle agreement in Croydon.

He said: "CCURV works. It is the only show in town. Why not get the private sector involved sooner? Projects are on the ground in Croydon and results will be seen after the upturn." read more

Carleton, Linsley, Peters and Swift join SocInvest 2010 programme

Published: 2010-06-08 15:28:58

John Carleton, chief executive of Local Partnerships, has joined the panel on Next Generation PPPs. Jamie Kerr of John Laing, London Borough of Croydon's Tony Middleton and Chris Pratt from King Sturge Financial Services are already on this panel.

Beverley Linsley, policy manager - private investment at The Northern Way will describe how the North East plans to approach regeneration funding on a regional basis.

London Borough of Croydon executive director of planning, regeneration and conservation Emma Peters has joined Trevor Beattie of the Homes and Communities Agency, Matthew Houseley from Royal Bank of Canada Capital Markets and CBRE's Jackie Sadek on SocInvest's final panel discussion of government regeneration policy.

Aylesbury Vale District Council head of legal and estates services Joanna Swift has joined the "Public Sector Structures – Driving Efficiency" workshop.

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