advancing asset transfer- implementing the quirk review hugh rolo community enterprise investment...
TRANSCRIPT
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Advancing Asset transfer-Implementing the Quirk Review
Hugh RoloCommunity Enterprise Investment
ManagerDevelopment Trusts Association
Advancing Asset transfer-Implementing the Quirk Review
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– Communities generating wealth and circulating it locally
– Communities with pride in their “place”
– Communities taking responsibility
– Increased financial & operational independence
– Increased skills base
– Focus for neighbourhood-based service provision
– Opportunities for new partnerships
• Community Anchor agenda / Quirk Review
Why care aboutassets?
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“The starting point is the recognition that optimising the use of public assets is not the primary objective: the over-riding goal is community empowerment.”
The Quirk Review:Confident communities
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• Investment readiness
• Capital Spend
• Revenue Viability
Stages of Development
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• Grants
• Debt
• Equity
• Other
Types of Finance
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• Understand LA attitude to risk – governance/capacity?– accountability (misuse of assets)
• Build the relationships
• Negotiate transitional support
• Understand your business
• Vision: confident communities
Share the journey
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• Transfer at less than OMV• Creates security/value for debt finance/match
funding• Accesses Limited Liability for project• The role of planning in establishing value• Section 106—related and unrelated• Focus for enterprise• Social return on investment
• Loses maximum capital receipt
Terms of Transfer
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London South BankCoin Street
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• Generally not well catered for• Sub Regional Strategic partnerships• Futurebuilders/Adventure Capital Fund• BIG• The larger Trust Funds• LA provision of professional skills• Pro Help and other pro bono• Sweat Equity
Investment Readiness
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• Grants –CAF and beyond but don’t forget Landfill, Clear Skies, DDA access, Heritage
• Debt—security for lenders (leases, clawback, fees, covenants, information requirements)
• Equity—quasi equity, community shares or capital partners, PRI
Capital Spend
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NorthumberlandHoly Island CDT
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• Quality of income stream
• Full Cost recovery
• Anchor tenants
• Rent and service charges
• VAT
• Cash flow
Revenue Viability
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DurhamAcumen CEDT
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• Contact Details
• Name: Hugh Rolo
• Tel: 01274 491615
• Email: [email protected]
• Website: www.dta.org.uk