Financial pressures and diminishing resources are making it increasingly hard for local authorities to deliver on one of their most fundamental civic objectives – to change and improve their communities and create attractive, safe and economically prosperous places.
Local Authority Investment Partnerships
Financial pressures and diminishing resources are making it increasingly hard for local authorities to deliver on one of their most fundamental civic objectives – to change and improve their communities and create attractive, safe and economically prosperous places.
UK Local Authorities are continuing to experience stringent restrictions on finance, with grant funding from Central Government reduced by as much as 40% over the last five years. Looking to the future many Councils in the larger conurbations will struggle to sustain even their core statutory services in the longer term. Under these pressures the scope for delivering place-changing investment, regeneration and vital infrastructure seems increasingly restricted.
At the same time the Council’s capacity to undertake a strategic review of its assets and match their potential against key delivery targets is massively restricted due to diminishing in-house capacity and acute short term challenges.
Viventi has assembled a team with unsurpassed experience in working with Local Authorities to create innovative investment and regeneration partnerships. Building on that experience, we’re able to offer bespoke local models that meet the needs of local authorities and enable them to realise key regeneration and growth ambitions through a Local Investment Partnership.
Our approach is predicated on commercial robustness and creativity, applying the philosophy of Investable Placemaking to deliver large-scale land developments that create thriving and attractive new places.
The core principle for collaboration, the Vivienti Local Investment Partnership, is forged on an equal joint venture model, with the Local Authority contributing its surplus land assets and Viventi Capital Management providing its capital investment, planning and delivery expertise. In addition, the model has in-built flexibility to allow participation by other private and public sector partners if required. The core objective of the Partnership can be stated as being to support the delivery of the Council Plan, (and other specific Council priorities as required from year to year), through the delivery of specific land investment plans.
The Partnership will arrange and manage appropriate exits to operators to deliver housing, food or other retail, commercial or employment opportunities; it will also have the capability to acquire identified sites within the Local Authority area , (or even across a wider region), to enhance sites or meet specific strategic community objectives to ensure a borough or town continues to be an attractive and sustainable place meeting the needs of local communities and businesses.
“Together the strengths and expertise of both Partners will ensure that the Partnership will successfully deliver Project Plan objectives and, critically, ensure the Partnership meets the Council’s strategic and community priorities and targets.”
Each Partner brings its specific skills, experience and relationships to the Partnership; an Authority will bring strong strategic and political links throughout its region and in-depth understanding of community aspirations and local needs. Viventi brings investment, commercial expertise and market relationships. The funds for investment are ring-fenced and secure to ensure the delivery of the Partnership’s projects. Together the strengths and expertise of both Partners will ensure that the Partnership will successfully deliver Project Plan objectives and, critically, ensure the Partnership meets the Council’s strategic and community priorities and targets.