Issue - items at meetings - FuturePlaces Annual Review

BCP FuturePlaces Ltd, (“FuturePlaces”) a wholly owned Urban Regeneration Company (URC) was set up with the fundamental purpose to drive “Place Making”, regeneration and property market transformation both across key sites owned by the Council and the wider area to support the aspirations set out in the Council’s Big Plan.

As part of the approved governance for the company, FuturePlaces must produce an Annual Review setting out the company progress to-date in the context of the targets and objectives in the Strategic Regeneration Commissioning Plan and the Key Performance Indicators as set out in the approved FuturePlaces Business Plan.

The review, appended to this report, contains an update on the company composition and governance as well as updates on progress to-date for individual projects and cross-cutting work commissioned by the Council and as set out in the FuturePlaces Business Plan approved by Cabinet in June 2022.

RESOLVED that Cabinet note the contents of FuturePlaces Annual Review appended to this report and considers the progress made to date towards the targets set out in the FuturePlaces Annual Business Plan approved by Cabinet in June 2022.

Voting: Unanimous

Portfolio Holder: Leader of the Council and Portfolio Holder for Development, Growth, Regeneration and Transformation

Reason

To contribute to the Council’s corporate vision, specifically helping to create dynamic places, investing in the homes our communities need, revitalising and re-inventing our high streets and local centres in line with the vision set out in the Big Plan.

FuturePlaces was formed to ensure BCP Council has the capacity, expertise, and resources to drive investment in regeneration and unlock value from major Council owned sites; it will also enable BCP Council to ensure that the delivery of new homes and regenerative development is maximised in accordance with existing programmes, to secure BCP’s outstanding place potential through high quality place making and create well designed, local neighbourhoods.

The Annual Review is a required element of the approved governance framework between the council and BCP FuturePlaces Ltd.

The Leader of the Council and Portfolio Holder for Development, Growth, Regeneration and Transformation presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'I' to these Minutes in the Minute Book.

Cabinet was advised that BCP FuturePlaces Ltd, (“FuturePlaces”) a wholly owned Urban Regeneration Company (URC) was set up with the fundamental purpose to drive “Place Making”, regeneration and property market transformation both across key sites owned by the Council and the wider area to support the aspirations set out in the Council’s Big Plan.

In relation to this Cabinet was informed that as part of the approved governance for the company, FuturePlaces must produce an Annual Review setting out the company progress to-date in the context of the targets and objectives in the Strategic Regeneration Commissioning Plan and the Key Performance Indicators as set out in the approved FuturePlaces Business Plan.

Cabinet was advised that the review, appended to the report, contained an update on the company composition and governance as well as updates on progress to-date for individual projects and cross-cutting work commissioned by the Council and as set out in the FuturePlaces Business Plan approved by Cabinet in June 2022.