New direction for Council's development company agreed in principle pending business plan approval
- Cross-party support for new way forward agreed in principle
- Plans will re-focus efforts on responding to local need
In a meeting of Full Council, a new way forward for Tawd Valley Developments has been agreed in principle, subject to approval of a new business plan to be presented at a future Council meeting, following recommendations by a cross-party committee.
Taking account of the findings in an independent review, the refocussed aim of TVDL will now '…seek to develop sites within West Lancashire with the fundamental aim of supporting the housing and economic needs of the residents of the Borough whilst making financial returns for its shareholder, the Council, and only undertaking work in adjacent boroughs for other local authorities or registered providers.'
The financial model used by TVD has also been revised, amending its financial arrangement with the Council from being profit-driven to outcome-focused. This new approach also allows TVD to progress with Government funding bids such as the £945,000 recently awarded to support the delivery of the £4.7m, 27 home scheme at Northfield in Skelmersdale, due to complete later this year.
Councillor Nicola Pryce-Roberts, portfolio holder for Housing, said: "I am incredibly pleased that as a Council, we have in principle found a positive and effective way forward for TVD.
"One of our top priorities is providing affordable homes, whether to rent or buy. This is key to the future prosperity of the Borough; good housing makes it much more attractive when it comes to people choosing where to live and for businesses looking to invest."
TVD recently completed thirteen new homes at Eskbank, 17 in Brierfield and 14 at Fairstead, all in Skelmersdale. Another development at Westhead (10 homes) is due for completion this summer with the 27 home Northfield scheme completing in phases across August and September this year. TVD's biggest scheme to date, building 50 new homes at Fairlie has recently started.