Advancing Asset transfer- Implementing the Quirk Review

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Advancing Asset transfer-Implementing the Quirk
Review
Advancing Asset transfer-Implementing the Quirk
Review
Hugh Rolo Community Enterprise Investment
Manager Development Trusts Association
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Why care about assets?

• Communities generating wealth and circulating
  it locally
• Communities with pride in their place
• Communities taking responsibility
• Increased financial operational independence
• Increased skills base
• Focus for neighbourhood-based service
  provision
• Opportunities for new partnerships
• Community Anchor agenda / Quirk Review

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The Quirk Review Confident communities

• The starting point is the recognition that
  optimising the use of public assets is not the
  primary objective the over-riding goal is
  community empowerment.

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Stages of Development

• Investment readiness
• Capital Spend
• Revenue Viability

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Types of Finance

• Grants
• Debt
• Equity
• Other

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Share the journey

• Understand LA attitude to risk
• governance/capacity?
• accountability (misuse of assets)
• Build the relationships
• Negotiate transitional support
• Understand your business
• Vision confident communities

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Terms of Transfer

• Transfer at less than OMV
• Creates security/value for debt finance/match
  funding
• Accesses Limited Liability for project
• The role of planning in establishing value
• Section 106related and unrelated
• Focus for enterprise
• Social return on investment
• Loses maximum capital receipt

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London South BankCoin Street
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Investment Readiness

• Generally not well catered for
• Sub Regional Strategic partnerships
• Futurebuilders/Adventure Capital Fund
• BIG
• The larger Trust Funds
• LA provision of professional skills
• Pro Help and other pro bono
• Sweat Equity

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Capital Spend

• Grants CAF and beyond but dont forget Landfill,
  Clear Skies, DDA access, Heritage
• Debtsecurity for lenders (leases, clawback,
  fees, covenants, information requirements)
• Equityquasi equity, community shares or capital
  partners, PRI

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Northumberland Holy Island CDT
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Revenue Viability

• Quality of income stream
• Full Cost recovery
• Anchor tenants
• Rent and service charges
• VAT
• Cash flow

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DurhamAcumen CEDT
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• Contact Details
• Name Hugh Rolo
• Tel [phone]
• Email h.rolo_at_dta.org.uk
• Website www.dta.org.uk