THE process of starting a municipality-owned business passed its last major hurdle after the approval of a business case for the project.
Cabinet members backed the idea last month and now the CEO of BCP Council has given final approval for the creation of the new company.
A report released Tuesday confirming his decision said the arrangement would give “a more precise focus” to projects involving the regeneration of key sites in the region.
At the May cabinet meeting, advisers said the council lacks “the expertise” to effectively handle this work internally.
“If we are to make a meaningful difference in people’s lives, it cannot be done by people who already have demanding day jobs,” said Councilor Beverley Dunlop, senior member of the Council for Regeneration in Bournemouth. “It’s something we really need to focus on.
“Urban life is changing, environmental needs are changing, transportation habits are changing.
“If we are to get ahead of this curve, we need to start focusing on it now and building our cities as places where people want to live and work.
Cabinet members were told the board was able to found the business “in a matter of weeks.”
But their unanimous approval hinged on the approval of a business case by chief executive Graham Farrant. It was done on Tuesday.
“The decision will allow the Board to acquire skills and expertise in commercial real estate development to complement internal staff resources,” said a report confirming the decision. “This will ensure a sharper focus on delivering reclamation sites than is possible within the board’s staff resource constraints, given the demands it faces in its core service areas.” ”
He said the company “will primarily focus on accelerating the pipeline of local sites to ensure sustainable development” and “strengthen” the council’s ability to move these projects forward.
The business case identifies “at least 12 major state-owned sites” with which it would be involved.