Is Tunbridge Wells Borough Council gambling our assets away?
IT is almost one year since Tunbridge Wells Borough Council signed an unprecedented deal with property developer John Laing to regenerate four towns in the area - Tunbridge Wells, Southborough, Paddock Wood and Cranbrook.
The idea is to share the council's land with John Laing's cash to make even more money for the taxpayer and regenerate the areas in an appropriate way. But views are mixed on the 10-year project, which is the first of its kind in the UK. While some people think it will mean towns are regenerated in the best possible way, others are uneasy about a council being so tied in with a developer.
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Are Tunbridge Wells Borough Council gambling with our money?
As its first anniversary approaches, in this week's paper Lee Moran looks into how the company works, and its perceived pros and cons.
Buy today's Kent and Sussex Courier for our full four-page investigation into the project.











8 Comments
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by P W, From SE In Nw
Monday, December 07 2009, 6:20PM
“" decided to foist upon the time"
to foist upon us at the time.”
by P W, From SE In Nw
Monday, December 07 2009, 6:18PM
“Andrew - I've been relying on the website for the past five years - having moved away to be able to afford a house! However I've been a regular reader of the physical paper and of the Sevenoaks Chronicle for a good 25 years or so - and if it has changed it's editorial policy in recent years I'm glad to hear it! Because for the majority of the rest of the time it was forever subservient to it's Daily Mail paymasters and never criticised anything that the council decided to foist upon the time! It's head was so far up the council's backside on some occasions that the paper went straight on the recycle pile,
If it now looks at the world in a more Independent light then good for it - but it was a long time coming.”
by Rob.Marsh@westkentymca.org.uk, West Kent YMCA
Monday, November 30 2009, 12:57AM
“Dear Editor,
I welome innovation and risk sharing [also gain sharing] so long as it comes with full transparency and proper safeguards. I am not yet certain if these are fully in place; and have some questions that do not seem to have been answered.
My main concern is that the joint venture company ONLY exists to gain profit for the 2 shareholders. I think a far better vehicle for this would be a community interest company - a CIC - as a CIC has an 'asset lock' preventing large profits to shareholders [current or future] and this could extend beyond the 10 year share holding by John Laing to cover future shareholders [selected by a procurement process].
A CIC would also allow other shareholders to join - such as Parish councils or Kent County Council - who could bring land assets to the CIC subject to the same asset lock safeguards [of there must be a community benefit - financial or otherwise]. The CIC [or indeed the JV company] could also have 2 or 3 independent directors [unpaid from Health, Business, or a Social Landlord - rather like trustees or non-exec directors] to help allay the very natural public fears.
Q - Did TWBC consider the CIC as a vehicle?
Q - If not would they and John Laing - as shareholders -consider turning the JV company into a CIC within 12 months and before the first development?
Q. Will the arrangements allow for land currently owned by KCC, Kent Police, NHS, MOD, HMPS, HMRC, local councils or other government depts [or derelict/ abandoned] to be developed in the same way?
Q. If not - could this development service be offerred as an option to owners/ developers to help tease out the optimum development prior to formal planning applications?
Q. TWBC and other authorities are permitted by law to transfer assets such as land / buildings at no/low cost to community ventures / local charities etc. This joint venture seems designed to prevent any such transfer [whereas a CIC would more properly recognise the community benefit]. Is this the case?
Q - Was this considered by TWBC or John Laing?
Q - What safeguards are in place to ensure transfers to other community organisations are possible even if the JV Co will get less profit?
Q. Charities, social landlords and faith community could often make excellent use of TWBC land - for example building supported housing [for which they can get capital grants for construction but not for land purchase/lease] in Southborough, John Street or Cranbrook on all/part of each site. Can TWBC guarantee that this option will be considered in EVERY site - to evaluate if free transfer to another agency would give better value for rate payers [rather than purely financial value for 2 shareholders]
Q - will the JV company always consider the scope to build much needed genuinely affordable housing on every site - even if planning rules do not apply to smaller sites / developments?
Lastly I welcome the Courier investigation into this initiative - which i hope will continue. TWBC seem to have used the procurement process very thoroughly but no public / stakeholder consultation - which leads to much of the public fear and scepticism about what might prove to be good idea and development model!
I look forward to hearing answers or ideas on the above.
Yours sincerely
Rob Marsh | CEO West Kent YMCA | Charity 803529 | M 07941 388 852 | T 01892 542209
PS thank you for the very helpful article recently by Helen about our plans to refurbish and extend Ryder House to build another 13 affordable flats - we may offer a second chance for members of the public to be briefed on our proposals this week - Wed 2nd Dec at 730 pm - see our website or contact us to book in”
by andrew, TWells
Wednesday, November 18 2009, 12:15PM
“PW - you obviously don't read the courier that much - it questions the council on a weekly basis in the stories it does!”
by P W, From SE In Nw
Wednesday, November 18 2009, 12:10PM
“The Courier questioning the activities of the Council! Did it freeze over in hell or something?”