local authority finance

 

Southend-on-Sea Borough Council

Evaluating Regeneration Options

 

southendThe Assignment

As with many local authorities Southend-on-Sea is experiencing unprecedented pressure on its revenue account and increasing demands for more and better housing provision together with a desire to regenerate Southend as a "place".

Having identified a predominantly Council owned potential site for redevelopment, the Council engaged 31ten Consulting to generate and consider potential delivery options to best meet its financial and non-financial objectives.

 

 

Our Role

Using their broad experience of opportunities such as this, our consultants have developed a number of potential approaches and presented these to senior officers. Specifically we have:

• Helped to clarify the Council's strategic and tactical objectives for the site including;
• Supported the Council to articulate and clarify the type of role it would consider in the development;
• Developed an number of alternative approaches including for example, self-development, joint venture approaches;
• Displayed the potential financial and non-financial advantages and disadvantages of each and a comparison with a base case example;
• Identified a number of different ways in which the development could be funded; and
• Helped to shape a soft market testing exercise.

We continue to provide ongoing financial, delivery and strategic support to the Council on this major development.

 

Key Outcomes

Key Council officers now have a clear understanding of the alternative approaches and how each would help to deliver its key objectives. They are now in an informed position to take key decision going forward.