local authority finance

 

Croydon Council

Developing an Asset Strategy

 

Croydon assetsThe Assignment

Croydon Council has for a number of years been searching for a long-term capital investment solution that would deliver major infrastructure, and economic and housing regeneration within the borough.

To facilitate this solution the Council had to first identify and understand the magnitude of capital investment required to meet its regeneration aspirations, as well as the current and future investment requirements of each of its services.

31ten consultants were part of the team that researched, devised and developed a 20 year needs based capital strategy and investment plan for the Council, together with strategies for funding the significant investment.

 

Our Role

The team consulted widely to understand the economic and regeneration aspirations of the Council and its future accommodation requirements, together with the capital investment needs and aspirations of each individual Council service.

The approach employed challenged the quantum and effectiveness of existing investment programmes and supporting capital processes, whilst providing a detailed understanding of the scale and type of investment needed to provide the capital infrastructure appropriate for the organisational future goals.

A number of ways to generate investment and funding strategies to meet the Council's corporate need were also devised and discussed. The work was mindful of the capital financing issues faced by the Council and the project identified that by adopting a longer term approach to capital planning, the Council could achieve significantly better investment outcomes.

 

Key Outcomes

The key output from this work was a fully financed, 20 year organisation-wide needs based capital strategy and investment plan for the Council. This ensured that the affordability implications of committed and aspirational capital projects were fully understood by key decision makers and strategies were developed that would potentially fund those projects.