Issue - meetings
Haringey Development Vehicle - Financial Close and Establishment
Meeting: 03/07/2017 - Cabinet (Item 35)
35 Haringey Development Vehicle - Financial Close and Establishment PDF 708 KB
[Report of the Director for Housing and Growth. To be introduced by the Cabinet Member for Housing, Regeneration and Planning.]
Approval of the legal documentation to establish the joint
venture Haringey Development Vehicle, the Vehicle Board and its
first set of business plans.
Additional documents:
- Appendix 1a Summary of legal documenation for approval (the 'Pinsent Masons Report'), item 35 PDF 229 KB
- Appendix 1b Members Agreement, item 35 PDF 3 MB
- Appendix 1c Agreement for Sale of the Investment Portfolio, item 35 PDF 634 KB
- Appendix 1d Development Framework Agreement, item 35 PDF 318 KB
- Appendix 1e Private Sector Partner Guarantees (Appendix 1ei - Members Agreement Guarantee), item 35 PDF 152 KB
- Appendix 1e Private Sector Partner Guarantee (Appendix 1eii - Development Management Agreement Guarantee), item 35 PDF 92 KB
- Appendix 1e Private Sector Partner Guarantees (Appendix 1eiii - Asset Management Agreement Guarantee ), item 35 PDF 92 KB
- Appendix 1f Development Management Agreement, item 35 PDF 449 KB
- Appendix 1g Strategic Asset Management Agreement, item 35 PDF 452 KB
- Appendix 1h Land Assembly Agreement, item 35 PDF 418 KB
- Appendix 1i Contractor Framework Agreement, item 35 PDF 342 KB
- Appendix 1j Limited Partnership Agreement, item 35 PDF 211 KB
- HDV_StrategicBusinessplan_Place_3july17V2_Redacted_appendix 2a, item 35 PDF 3 MB
- Appendix 2b Strategic Business Plan (Delivery), item 35 PDF 3 MB
- Appendix 2b Strategic Business Plan (Appendix 2bi), item 35 PDF 81 KB
- Appendix 2b Strategic Business Plan (Appendix 2biii), item 35 PDF 2 MB
- Appendix 2b Strategic Business Plan (Appendix 2biv), item 35 PDF 193 KB
- Appendix 3a Northumberland Park Business Plan (Executive Summary), item 35 PDF 717 KB
- Appendix 3a Northumberland Park Business Plan (Place), item 35 PDF 3 MB
- Appendix 3a Northumberland Park Business Plan (Delivery), item 35 PDF 2 MB
- Appendix 3a Northumberland Park Business Plan (Appendix 3aiii), item 35 PDF 377 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3aiv), item 35 PDF 305 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3av), item 35 PDF 256 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3avi), item 35 PDF 955 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3avii), item 35 PDF 367 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3aviii), item 35 PDF 553 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3ax), item 35 PDF 937 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3axii), item 35 PDF 473 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3axiii), item 35 PDF 2 MB
- Appendix 3a Northumberland Park Business Plan (Appendix 3axiv), item 35 PDF 423 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3axv), item 35 PDF 377 KB
- Appendix 3a Northumberland Park Business Plan (Appendix 3axvii), item 35 PDF 300 KB
- Appendix 3b Northumberland Park Business Plan - Equality Impact Assessment, item 35 PDF 9 MB
- Appendix 4a Wood Green Business Plan (Executive Summary), item 35 PDF 711 KB
- Appendix 4a Wood Green Business Plan (Place), item 35 PDF 2 MB
- Appendix 4a Wood Green Business Plan (Delivery), item 35 PDF 1 MB
- Appendix 4a Wood Green Business Plan (Appendix 4aii), item 35 PDF 301 KB
- Appendix 4a Wood Green Business Plan (Appendix 4aiii), item 35 PDF 201 KB
- Appendix 4a Wood Green Business Plan (Appendix 4aiv), item 35 PDF 767 KB
- Appendix 4a Wood Green Business Plan (Appendix 4av), item 35 PDF 481 KB
- Appendix 4a Wood Green Business Plan (Appendix 4avi), item 35 PDF 707 KB
- Appendix 4a Wood Green Business Plan (Appendix 4avii), item 35 PDF 331 KB
- Appendix 4a Wood Green Business Plan (Appendix 4aviii), item 35 PDF 610 KB
- Appendix 4a Wood Green Business Plan (Appendix 4ax), item 35 PDF 10 MB
- Appendix 4a Wood Green Business Plan (Appendix 4axi), item 35 PDF 480 KB
- Appendix 4b Wood Green Business Plan - Equality Impact Assessment, item 35 PDF 6 MB
- Appendix 5a Cranwood Business Plan (Executive Summary), item 35 PDF 380 KB
- Appendix 5a Cranwood Business Plan (Place), item 35 PDF 2 MB
- Appendix 5a Cranwood Business Plan (Delivery), item 35 PDF 534 KB
- Appendix 5a Cranwood Business Plan (Appendix 5aiii), item 35 PDF 53 KB
- Appendix 5a Cranwood Business Plan (Appendix 5aiv), item 35 PDF 124 KB
- Appendix 5a Cranwood Business Plan (Appendix 5av), item 35 PDF 43 KB
- Appendix 5a Cranwood Business Plan (Appendix 5avii), item 35 PDF 370 KB
- Appendix 5a Cranwood Business Plan (Appendix 5aviii), item 35 PDF 341 KB
- Appendix 5a Cranwood Business Plan (Appendix 5ax), item 35 PDF 35 MB
- Appendix 5a Cranwood Business Plan (Appendix 5axii), item 35 PDF 412 KB
- Appendix 5b Cranwood Business Plan - Equality Impact Assessment, item 35 PDF 4 MB
- Appendix 6a Commercial Portfolio Business Plan, item 35 PDF 4 MB
- Appendix 6b Commercial Portfolio Business Plan - Equality Impact Assessment, item 35 PDF 4 MB
- Appendix 6c List of Commerical Portfolio properties for disposal to HDV, item 35 PDF 198 KB
- Appendix 6d Commerical Portfolio properties (General Fund), item 35 PDF 234 KB
- Appendix 7a Social and Economic Business Plan, item 35 PDF 1 MB
- Appendix 7b - Social & Economic Business Plan - Equality Impact Assessment (2), item 35 PDF 6 MB
- Webcast for Haringey Development Vehicle - Financial Close and Establishment
Minutes:
Before the Cabinet Member introduced the report, the Leader advised the meeting, that the public appendices to this report were included at pages 97 to 1474 of the second pack of papers, for ease of reference.
The Leader asked the Cabinet, in particular, to note the equalities comments in the report at section 8.49-8.57 and the equalities impact assessments completed for the strategic business plans for Northumberland Park at appendix 3b, Wood Green at appendix 4b, Cranwood at appendix 5b. Also to note the equalities impact assessments for the Commercial Portfolio at appendix 6B and the social economic business plan at appendix 7b.
Councillor Strickland introduced the report and set out the overall aim in establishing the HDV [ Haringey Development Vehicle] which was to meet current and future demands in housing need, by building greater numbers and types of housing in the borough. In addition, tackling unemployment and child poverty, improving use of existing land for employment stock, and creating more local jobs. The HDV would further provide the right infrastructure to meet the regeneration needs and ambitions of the borough.
Councillor Strickland continued to provide the background which had led to consideration of a joint venture vehicle. This was following participation in the Future of Housing Review with a cross party group of Members and visiting other Councils which had various development arrangements in place. The cross party group had been concerned that other Councils were handing over land with little or no control on the outcome and not having any skills / expertise to access to regenerate areas.
The Cabinet Member underlined the importance of having a vehicle to facilitate estate and town centre regeneration of the borough with people at the centre of the decision making process. He continued to outline the benefits of the joint company model put forward which would mean setting up a 50/50 company with Haringey elected members retaining control over key decisions, and the company can only act within the priorities and plans set out in the company’s business plan.
Specific requirements and guarantees were sought from Lendlease before the HDV was proposed for establishment. The Cabinet Member was satisfied that the Council was being offered:
· 6400 new homes built with at least 40 % affordable
· Guarantees on right of return.
· More control of the development of sites to ensure that there is increased housing.
· Access to skills and expertise to make the most of the land.
· Taking forward estate regeneration and being at the centre of the decision making for the next 20 years.
There was also a landmark proposal, similar to the agreements reached on the Olympic Park on local jobs and employment standards including the Living Wage. The joint venture would ensure existing residents get better housing, improved community facilities, jobs, health centre access, community facilities, a library, new green space and youth programmes. This was beyond what has been previously secured by the borough through regeneration schemes.
Councillor Strickland emphasised that the recommendations had come forward after ... view the full minutes text for item 35