Presentation to External Auditor 19/04/2017
North Tottenham Transformative Regeneration Area partnerships
Haringey Development Vehicle • Northumberland Park 5,000 new homes (40% affordable) • Further 1,400 homes across category 1 sites • A new all-through academy school for 2,300+ students and a new Health Centre • New centre for Wood Green including residential, commercial and Council accommodation • Management and enhancement of existing £45 million Council commercial property portfolio with further commercial development in the borough • Investment in jobs/ skills/ Social Impact Fund • Creation of up to £11m pa in new Council tax and business rates receipts • Council receives £275m development returns
High Road West • 2500 new homes • A new London Overground station at White Hart Lane • A new public square surrounded by new commercial and community uses that will be at the heart of the new neighbourhood, linked to THFC • A new, modern library and learning centre • Redevelopment from 2019
THFC - Planning approval Dec 2015 (LBH) & March 2016 (GLA) for 61,000 capacity stadium; NFL and enhanced events offer; 585 homes; major new commercial space (hotel, museum, extreme sports) and public realm - New stadium to be open for 2018/19 season
HDV Objectives (Summary) • To deliver growth • To achieve and retain a long – term stake and control in development of Council’s land • In partnership with private sector, catalyse delivery of challenging schemes • To achieve estate renewal by intensification of land use and establishment of mixed tenures • To secure wider social and economic benefits • To incorporate land belonging to other stakeholders into developments
HDV Sites • Sites are across the borough Category 1 – Initial Sites • Northumberland Park • Wood Green • Civic Centre • Station Road Buildings • Library Site • Cranwood Care Home • Commercial Portfolio • Category 2 (Listed in Cabinet Report) and Category 3 (not specified) are in the scope of procurement and may follow
HDV – Decisions • Cabinet February 2015 – authorised soft market testing • Cabinet November 2015 - authorised launch of procurement and delegated authority on documentation to Director/Leader • Cabinet February 2017 - agreed to appoint Lendlease as Preferred Bidder • Cabinet March 2017 – following call in confirmed decision
HDV - Future decisions • Cabinet July 2017 - recommendation to establish HDV and agree initial Business Plans • Strategic Business Plan • Category 1 sites • Socio-Economic • Commercial Portfolio • Further decisions will be required: • to approve application for disposal of housing land • to add further sites
HDV Procurement • Soft market testing and feasibility studies pre procurement • Prior Indicative Notice - November 2015 • OJEU / PQQ January 2016 - 13 bidders • Invitation to Submit Outline Solutions (ISOS) March 2016 – 6 bidders • Invitation to Submit Detailed Solutions (ISDS) July 2016 – 3 bidders • Invitation to Submit Final Tender (ISFT) December 2016 – 3 bidders • Currently optimising and specifying detail in accordance with regulations
HDV Structure • Limited Liability Partnership • 50:50 vehicle • Council Land matched by Lend Lease cash / equity • Loan note structure • Subsidiary vehicles for Development/ Investment
HDV Governance • Board 3 members each • Cllr Weston • Strategic Director of Regeneration Planning and Development – Lyn Garner • Director of Transformation and Resources- Richard Grice • Collective vote • Rotating chair (no casting vote) • Same Board Members on subsidiary Boards • Suite of legal documents inter alia Members Agreement Development Framework Agreement Development Management Agreement Asset Management Agreement
HDV Protections • Dispute resolution • Deadlock • Default • Winding up • Reputation
HDV - Decision Making Structure Members (Council and Haringey Development Council only private partner) Vehicle Develops new scheme business plan (or proposes changes) Approve scheme business plan, including ‘conditions precedent’ Prepares for development (planning permission, funding for scheme etc) (Approves any CPOs, outcome of consultation etc as required) Transfers land to HDV (compulsory if conditions are met) Delivers scheme, including procurement Receive & invest dividends
High Road West Site Context • C.11 hectare development site • One-third in LBH ownership , the Love Lane housing estate (297 properties): - 212 council tenancies - 85 leaseholders • Two thirds in third party land ownership, includes business/Industrial Estates. • THFC own 14% of the land • Adjacent to £750m THFC development • £62m of Housing Zone funding secured
HRW Objectives • Comprehensive regeneration of the area • Regeneration of the Love Lane Estate and delivery of a mix of tenures • A new economically successful local centre • Maximise the social and economic benefits for local people and deliver high quality community facilities • Significant increase the amount and quality of open space • High quality design
HRW Deliverables • A minimum of 1,400 new high quality homes to (include 145 social rent homes and 46 shared equity homes) • A minimum of 8,800sqm of commercial space • A new 1,400sqm library and learning centre • Improvements to the landscape and public realm, including a major new link between an enhanced White Hart Lane Station and THFC
HRW Delivery Structure • OJEU procurement underway to select a development partner – due to conclude in September 2017 • Partnering by way of Development Agreement • Steering Group will be established to oversee project • Development conditional on site wide and phased conditions • Council assembles and transfers land on a phased basis (250 year lease) • Delivery partner develops out, with affordable & community infrastructure delivered to agreed specification
HRW key decisions made Nov 2013- Cabinet - Received feedback, gave authority to develop comprehensive masterplan, continue ongoing engagement with the community July 2014 – Cabinet – Delegated Authority report to Director of Regen. and COO to agree masterplan for consultation, agree s105 material and initiate s105 consultation and initiate the rehousing process for tenants living in phase 1 Dec 2014- Cabinet - Received consultation feedback, agreed the masterplan, agreed resident guides and Resident Charter, approved demolition of the estate Dec 2015- Cabinet - Agreed the HRW delivery and procurement objectives, noted the business case setting out preferred delivery route, agreed to commence OJEU procurement process , DA to Director of Regen to agree material and deselect Bidders. Sept 2016- Cabinet - Agreed the Overarching Borough Agreement with GLA for the Housing Zone funding
HRW further decisions for approval • Selection of a development partner - Cabinet September 2017 • Best consideration sign off – Cabinet September 2017 • Delegated Authority to Director of Regen and COO to enter into Development Agreement once finalised- Cabinet September 2017 • Ownership of the replacement homes - Cabinet September 2017 • Permission to seek Secretary of State consent to dispose of, and appropriate, Housing Land - Full Council November 2017 • Resolution to make a CPO (if required)- 2018
HRW Steering Group • The Council and partner will have three representative on the Steering Group. • The Council representatives will include a regeneration and finance lead. • The Steering Group will: - agree, adopt, review and update the Strategies - Review the progress of the development and operation of the DA - Review the Financial Model and Phase Appraisals - Review progress towards satisfying the Phase 1 Conditions - Approve the CPO budget - Agree milestones for the Milestone Condition applicable to Subsequent Phases • The Council will have discretion to make the following decisions outside of the Steering Group: - Land payment - Planning applications before being submitted to Planning Authority • If decisions can not be made at the Steering Group, matters will be escalated to Senior Officers in each organisations. If a decision is still not made, some matters can be determined by an independent expert.
HRW Governance • HRW Scheme is part of the Tottenham Joint Strategic Forum Tottenham Regeneration (Chair: LBH & GLA) Programme governance • Reports to North Tottenham Tottenham Programme Internal Board, which has legal, Delivery Board finance, procurement ( Chair: Strategic Cabinet Member Director of one-to-one representatives Regeneration, (fortnightly) Planning & • Strategic Directors meetings Development) Northumberland between dialogue meetings Park Project Board North Tottenham (Ward Cllrs) Internal Board • Procurement Board (monthly) (Chair: Director of Regeneration)
Recommend
More recommend
