Issue - meetings

The Committee resolved to:

1.    Agree the Social Value Strategy for the regeneration site disposals and recommend to Council for approval; and

2.    Note that by adopting the Strategy the relevant housing and regeneration sites will be marketed to include a requirement for third parties to provide social value provision within their offers, which may reduce the highest financial value being achieved.

The Committee considered a report that sought a recommendation for Council to approve the proposed Social Value Strategy for the Council’s regeneration sites.

The Committee were advised that this report had been considered at a meeting of the Business, Infrastructure and Growth Committee in January and a recommendation was made to this Committee to agree the Social Value Strategy for the regeneration site disposals.

The Group Head Assets was asked to provide a list, to be circulated to all committee members, of all commercial properties within the Council’s Portfolio.

The proposed strategy would ensure that an agreed set of parameters would be used to evaluate any offers as opposed to just accepting the highest offer. Prior to any site disposal Council will agree a minimum site value and attach weightings to individual criterium to aid decision making and to ensure that the Council consider the social value to the Borough’s residents.

Councillor Williams requested a recorded vote.

The Committee resolved to:

1.    Agree the Social Value Strategy for the regeneration site disposals and recommend to Council for approval; and

2.    Note that by adopting the Strategy the relevant housing and regeneration sites will be marketed to include a requirement for third parties to provide social value provision within their offers, which may reduce the highest financial value being achieved.

Committee is asked to:

1.    Agree the Social Value Strategy relating to the Council’s regeneration sites and recommend to the Corporate Policy and Resources Committee for approval by Council.

2.    Note that by adopting the Strategy the relevant housing and regeneration sites will be marketed to include a requirement for third parties to provide social value provision within their offers.

The Committee resolved to:

1)    Agree the Social Value Strategy relating to the Council’s regeneration sites and recommend to the Corporate Policy and Resources Committee for approval by Council

2)    Note that by adopting the Strategy the relevant housing and regeneration sites will be marketed to include a requirement for third parties to provide social value provision within their offers.

Meeting adjourned at 20:37

Meeting reconvened at 20:47

The Committee considered the Social Value Strategy for site disposals. A Social Value Strategy would provide decision-making Committees with agreed criteria against which to appraise offers for future development on Council-owned sites which were not based only on financial consideration. If adopted, the strategy would provide clear guidance to developers on the Council’s expectations on the inclusion of social value initiatives in their offers. The strategy was generic but provided a list that could be chosen from to ensure the right social value elements were applied to appropriate sites.

The Committee noted that adopting the strategy would assist in delivering social housing within the borough. It would also provide an objective way for Committees to determine if lower offers that provided affordable housing should be considered. Some members of the Committee cautioned against proposals that suggested lower capital receipts, but other members of the Committee acknowledged that providing social housing would offset the Council’s temporary housing budget.

A recorded vote was requested by Councillor Sexton and the results were as follows:

The Committee resolved to:

1)    Agree the Social Value Strategy relating to the Council’s regeneration sites and recommend to the Corporate Policy and Resources Committee for approval by Council

2)    Note that by adopting the Strategy the relevant housing and regeneration sites will be marketed to include a requirement for third parties to provide social value provision within their offers.