This ‘thinkpiece’ sets out an innovative approach to how the increased land value generated by regeneration can be captured so it has maximum community benefit.
It has been developed by the Whitehill & Bordon Regeneration Team and provides insight into:
– establishing a review mechanism as part of Section 106 agreements
– how investing in increased quality schemes has a considerable positive economic impact on the national and local economy
– how to secure early investment
– the possibility of endowing assets or land to a community development trust
– calculating the savings made through the regeneration and demonstrating these to the Treasury so that the area becomes a future priority for investment and support
The team has also modelled the actual financial benefits of its approach to regeneration over a standard ‘market-led’ approach and the results, detailed in this paper, are considerable.
The Whitehill & Bordon team is now keen to explore its approach to capturing land value and is seeking to discuss it with government officials and ministers. The team would like to work with like-minded organisations to form a ‘mini thinktank’ to further develop this work. If you are interested in being involved then please email whitehillbordon@easthants.gov.uk
For all the latest news about the Whitehill & Bordon regeneration please visit www.whitehillbordon.com or follow us @WhitehillBordon