Regeneration launch 23.11.10
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This information was presented at the Derby Regeneration Fund Event Launch at The Roundhouse, Derby on 23rd November 2010 by Cllr Alan Grimadell, Adam Wilkinson and Richard Williams from Derby City Council. Derby City Council has made a massive statement of intent this week by launching a new £10m Regeneration Fund to support new development in the city. The City Council has expressed its desire to be at the forefront of economic interventions during this current economic climate and the £10m fund is one manifestation of this. The fund is seeking to support property development schemes that will deliver high quality and sustainable accommodation that will support high added value businesses within or impacting upon Derby City centre. Funding from £400,000 to £4 million per project is available to private sector companies including landowners, developers and owner occupiers seeking to deliver property projects with Derby City Council investment partner. For more details including instructions for making an expression of interest, visit www.derbyregenerationfund.co.uk or call Thomas Lister on 01527 871 640.
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Regeneration launch 23.11.10
- 1. LAUNCH OF DERBY CITY COUNCIL LEISURE STRATEGY and REGENERATION FUND 23 NOVEMBER 2010
- 2. COUNCILLOR ALAN GRIMADELL CABINET MEMBER DERBY CITY COUNCIL 23 NOVEMBER 2010
- 3. ADAM WILKINSON CHIEF EXECUTIVE DERBY CITY COUNCIL Introduction to - Leisure Strategy - Regeneration Fund
- 4. ROUNDHOUSE Roundhouse £50million Council capital programme £300million
- 6. CONNECTING DERBY £40million - Completion March 2011
- 7. SCHOOLS New Noel Baker Community and Language College and St Martin’s Special School - Start on site December 2010 £37million - Plus Village Primary School £7million
- 8. SCHOOLS Building Schools for the Future - Derby Moor Community Sports College – new build and part refurbishment Start on site January 2011 - £20million - Plus new Sinfin Community School - £17million
- 9. £34million new build and part refurbishment COUNCIL HOUSE
- 10. LONGBRIDGE WEIR HYDRO ELECTRICITY PLANT £2million Start on site early 2011 Power for the Council House and the National Grid
- 11. HOUSING PFI Housing PFI (Awaiting final approval from Treasury) Start on site mid-2011 £22million
- 12. CASTLEWARD URBAN VILLAGE - £100million - 20 year partnership - 800 dwellings, new nursery and primary schools, community building, retail/ commercial, active boulevard frontages - Phase 1: Spring 2012 140 units, 5 acres
- 13. CITY COUNCIL LEISURE STRATEGY – £50MILLION - Replacement of buildings in poor condition eg Moorways
- 14. Survey of building stock and sporting facilities in 2009 identified – Deteriorating and ageing stock – Suffered from years of under-investment – Need for significant refurbishment or replacement – To ‘stand still’ would require £18m investment – Lack of regional facilities – Need to spend over £20m on repairs/refurbishment in coming years MOORWAYS
- 15. LEISURE FACILITY STRATEGY – STANDARD PROCUREMENT - 2 Hubs – Swimming Pool and Velodrome - 2/3 sites identified for each
- 16. LEISURE FACILITY STRATEGY – STANDARD PROCUREMENT - 2 Hubs – Swimming Pool and Velodrome - 2/3 sites identified for each
- 17. LEISURE HUBS
- 18. LEISURE FACILITIES STRATEGY – OPPORTUNITIES FOR DEVELOPERS - Basic package – one or both sites - Further hub sites may be proposed - Options to range from turnkey package to Council ownership - Private sector faster and more experienced in site assembly - Leading to OJEU process
- 19. PROCUREMENT OF DERBY’S LEISURE STRATEGY Launch Event Formal Market Sounding: One to One Workshops Project Refinement OJEU Procurement - 23 November 2010 - January 2011 (8 weeks) - February 2011 (4 weeks) - March 2011
- 20. REGENERATION FUND - £10MILLION - No city centre offices in last 20 years - Other developments eg Riverlights - Brief for Regeneration Fund framed in discussion with developers - Addressing market failure
- 21. OFFICE DEVELOPMENTS Early schemes funded - Developments with planning permission - Site ownership - Early starts possible - Concentrating on office schemes, and commercial/mixed-use
- 22. RICHARD WILLIAMS DIRECTOR OF REGENERATION DERBY CITY COUNCIL
- 23. PROCUREMENT OF DERBY’S LEISURE STRATEGY Launch Event Formal Market Sounding: One to One Workshops Project Refinement OJEU Procurement - 23 November 2010 - January 2011 (8 weeks) - February 2011 (4 weeks) - March 2011
- 24. REGENERATION FUND Potential Funding Mechanisms: – Equity investment JVs – Debt finance – rent guarantees – Direct acquisitions/development – Gap funding
- 25. REGENERATION FUND - How to qualify? - Thomas Lister role - Swift application process - Preliminary project assessment – 1 week - Progression to outline application stage
- 26. REGENERATION FUND - Outline application stage – 2 weeks - Application form on Derby Regeneration website www.derbyregenerationfund.co.uk - Development appraisal - Selected schemes move to full application stage
- 27. REGENERATION FUND - Full application – 2 weeks - Full project appraisal including build cost, specification and programme - Recommendation to Council Members
- 28. REGENERATION FUND - Role of Thomas Lister - Role of Council and Partnership Team - Investments based on Value for Money and outputs
- 29. REGENERATION FUND - Target outputs - Private sector investment - Jobs - BREEAM excellence - New build and redundant/under utilised buildings - Sustainable mixed-use developments
- 30. REGENERATION FUND - Next Steps - Derby Regeneration Website www.derbyregenerationfund.co.uk - Recommendations for first round of investments to Cabinet in March 2011
- 31. REGENERATION FUND When to apply? - Now and ongoing until fund satisfied - Pick up a “flyer”, available here - The City Council Regeneration Team and Thomas Lister are here today if you want to see them - See the web site www.derbyregenerationfund.co.uk
Notas do Editor
- See separate script for Leader.
- Introduction to: Leisure Strategy Regeneration Fund Set in context we want to give you two things today: Detail on Regeneration Fund and how you can be involved Stat of market testing the wider development and regeneration potential generated by our new Leisure Strategy. The Council needs to build upon the Council’s recent achievements through Capital Programme
- Roundhouse - here today £50million partnership with Derby College The Council’s own capital programme in the last 5 years has been over £300million. We expect to continue to invest: because we have to because we need to lead in the Derby economy
- Council’s recent achievements through Capital Programme: QUAD - £8million
- Council’s recent achievements through Capital Programme: Connecting Derby - £40million - Completion March 2011
- New Noel Baker Community and Language College and St Martin’s Special School Start on site December 2010 - £37million Plus Village Primary School - £7million
- Building Schools for the Future Derby Moor Community Sports College New build and part refurbishment Start on site January 2011 - £20million Plus new Sinfin Community School - £17million
- Council House £34million new build and part refurbishment. Subject to discussions with English Heritage! - £42million
- Longbridge Weir Hydro Electricity Plant £2million project Start on site early 2011 Power for the Council House and the National Grid
- Housing PFI (Awaiting final approval from Treasury) Start on site mid-2011 - £22million
- Castleward Urban Village Castleward – 30 Acres - £100million investment scheme 20 year partnership project Circa 800 dwellings, new nursery and primary schools, community building, retail/commercial, active boulevard frontages First Phase commencing Spring 2012, 140 units, 5 acres
- Leisure Strategy The Council’s catalogue of leisure buildings is becoming very tired.
- Moorways Survey of building stock and sporting facilities in 2009 identified Deteriorating and ageing stock Suffered from years of under-investment Need for significant refurbishment or replacement To ‘stand still’ would require £18m investment Lack of regional facilities Need to spend over £20m on repairs/refurbishment in coming years
- Leisure Facility Strategy Description of our conventional Leisure Strategy – 2 Hubs – Swimming Pool and Velodrome 2/3 Sites identified for each
- Leisure Facility Strategy Description of our conventional Leisure Strategy – 2 Hubs – Swimming Pool and Velodrome 2/3 Sites identified for each
- Maps showing locations of hubs The hubs we have identified are: Velodrome Network Rail land, Wyvern Manor/Kingsway (HCA ownership) Pride Park (Park & Ride site adjacent to stadium) Swimming Pool Hub Becket Well DRI
- Run through the ladder of opportunities to developers Cabinet on 28 September approved the next stage of the Leisure Strategy as previously described, and the taking of our Leisure Strategy to a wider market. My officers have had discussions with some developers, but we now want to broaden the dialogue to get as wide a range of views as possible, before firming up on those development opportunities that we would like to proceed with. Developers can consider our opportunities as a sort of ladder as follows: Basic package would be for developers to present an analysis of one or more of the hub sites, with proposals for site assembly on one or two preferred sites. Developers may also present proposals for the hub sites that have been ruled out in the Council’s initial exercise. If none of these hub sites can be made to work financially, developers may produce proposals for other hub sites that the Council may not have previously considered. Sites that are freed up by the development of the hubs can then be considered for other appropriate development.
- Market testing – as described on previous slide – December to January 2011 Council refines the project – February 2011 OJEU procurement starts March 2011 Timescale depends on the refined project brief This, or standard procurement, to see one facility in time for the Olympics 2012
- Regeneration Fund - £10million Last office development in the city centre was pre-1990. We have had other developments eg QUAD, Riverlights. Discussions with developers between our launch of the fund at MIPIM last March and September Cabinet Report enabled us to frame up our proposals. Developers identified for us what is holding back developments, particularly those with planning permissions. Derby is a very successful city. The markets have failed nationally and internationally. Lack of funding from banks and/or public regeneration funds. Contraction of development and regeneration. Derby city centre lacks supply of high grade office accommodation.
- Office Developments with planning permission Spoken to all developers with office planning permissions in the city centre. These developers are now being invited to discuss schemes in more detail with our appointed agents, Thomas Lister. Concentrating on: establishing a new office core in city centre. commercial and mixed-use development with linkages to the city centre. redundant or under-utilised buildings back to economically beneficial use. conserving and protecting heritage and public realm. Handover to Richard Williams
- Market testing – as described on previous slide – December to January 2011 Council refines the project – February 2011 OJEU procurement starts March 2011 Timescale depends on the refined project brief This, or standard procurement, to see one facility in time for the Olympics 2012
- Potential Funding Mechanisms: Equity investment JVs Rent guarantees Direct acquisitions/development Gap funding Headline Targets: 20,000m2 (215,285 sq.ft) new quality offices in city centre £75m private sector investment 500 skilled jobs Sustainable development “Suits” on city centre streets
- How to qualify? Contact to be made with Thomas Lister who are assisting the Council to process applications. Brief details of the proposal will be required and the PPA will be completed by Thomas Lister and then appraised by the Council. Chris Thomas and Rachel Lister are with us today. A swift application process: Preliminary Project Assessment – decision 1 week from receipt of information from applicant Successful applicants will be asked to progress to the Outline Application stage
- Outline Application – decision 2 weeks from receipt of full information from applicant. An Outline Application Form will be able to be downloaded from the secure Derby Regeneration Website www.derbyregenerationfund.co.uk The information required will include a development appraisal. Information will be processed and meetings held with the applicants. Those schemes considered appropriate will then move to Full Application Stage.
- Full Application – decision 2 weeks from receipt of information from applicant The most detailed information required to enable the Council to assess to project this will include full build cost, specification and programme etc. If the project meets the requirements of the Fund, the opportunity will be put to Council Members Cabinet Approval sought for funds to be distributed
- Throughout the processes Thomas Lister and members of the City Council Team will be available to assist and guide the applicants/potential applicants. Meetings will take place with the applicants and assessment/ feedback will be given at every stage Co-operation is key. Investment decisions will be made based upon value for money from outputs generated by individual projects and return on investment made.
- Target Outputs – (as Adam briefly described earlier) New quality office accommodation to establish an office core in the city centre Private sector investment Create and safeguard jobs BREEAM excellent, increased environmental sustainability Redundant and under utilised buildings back to economic beneficial use Promote sustainable mixed use developments with linkages to the City Centre area Conserving and protecting Heritage assets and Public Realm. We will give priority to development schemes where there is planning permission in place and the promoter has ownership or control of the site. This is not a phased programme – it’s a continuous process.
- Following this launch the Derby Regeneration Website will be on line and will set out the processes. Interested parties should make enquiries and speak to Thomas Lister. The intention is to consider all those initial schemes received in the first instance and prepare a report for the beginning of January 2011. Because of EU procurement rules initially we will be seeking projects to come forward that already benefit from planning consent. There are EU rules that govern how a Council may invest in a project and we invite expressions of interest from all types of project what ever their status and we will assess on an individual basis in compliance with EU regulations and provide guidance where appropriate. Please speak to us. Those successful to progress to a decision by the Council by March 2011.
- When to apply? Now and ongoing until fund satisfied Pick up a “flyer”, available here The City Council RegenerationTeam and Thomas Lister are here today if you want to see them.