Council company to build a better future
WEST Lancashire Borough Council is to form a new development company to build housing and commercial units.
The council is launching the company as a way to increase its income in the face of massive government cuts and also to gain more control over the way the borough is developed.
Last week, the council’s cabinet agreed on plans to form the company and it could begin working this autumn, subject to approval from the full council.
The plans come after members of the cabinet visited other councils in the south of the country to explore and examine similar existing companies.
Since the plans were first raised, WLBC has already received interest from other nearby council regarding the possibility of using the company for projects in their areas.
The new company will be run independently of the council, with people with specialist skills and knowledge brought in to to run it.
All profits will then go directly back to the council as a vital boost to its income.
As well as building new homes for sale, rent and shared ownership houses, the company will also take on projects that could include building factory or commercial units.
Announcing the plans, the council pointed towards examples such as Firbeck, Skelmersdale; the current Westec development in Ormskirk; and the Greenwood Business Centre, Skelmersdale, as evidence of its success in development projects.
Cllr Ian Moran, the council leader and portfolio holder for economic regeneration, explained that there were two key benefits to the plans: ensuring that all income generated stays within the borough and giving the council more control over how areas are developed.
With current laws “massively in favour” of the developers, the scheme is designed to give some control back to the council and its residents and businesses, who will be liased with.
To help the development company become successful, it will be given key objectives. These are:
Creating a focus on delivery and providing a mechanism for the council to build new homes for sale and rent, regeneration and commercial and industrial schemes.
Secure additional private and government investment into the borough.
Create relationships with landowners, developers and investors which deliver financial and regeneration benefits.
Maximise appropriate development and accelerate growth by providing property and commercial expertise.
Cllr Moran explained: “By setting up the company, initially in Shadow format, the council will be making significant progress towards this key project.
“One of the council’s top priorities is to be ambitious for the local economy by developing commercial and residential property.
“This would help support new and growing businesses, retain and grow jobs and increase the number of residents in the area.
“The development company will help the council achieve that and generate income for the authority through council tax and business rates to support frontline services and more exciting projects.”