Joint report of Director of Neighbourhood Services and Assistant Chief Executive.

Consideration was given to a report regarding the proposed establishment of a Regeneration Trust to maximise the effectiveness of the Council’s contribution to investments in the Coalfield priority areas outlined in the Housing Master-plan for Dean Bank, Ferryhill Station and Chilton.  (For copy see file of Minutes).

It was noted that Savills Consultants had prepared a comprehensive report for the Council, which recommended the establishment of a community based Regeneration Trust, to which approved financial resources and associated assets would be transferred. 

Members were reminded that the Council had allocated the sum of £9 million (£3 million per annum over the three years covering the period 2007/2008 to 2009/2010) to regenerate the former Coalfield priority areas, recognising that further significant funding would be required in future years. 

It was explained that whilst the Trust would hold assets for the benefit of the community, the projects themselves would be delivered through a Housing Regeneration and Development Company.  The report proposed that further work should be jointly commissioned with the District of Easington and Wear Valley District Council to look at ways of establishing a non locality based, profit making Housing and Regeneration Development Company to provide programme management for the regeneration of all priorities across the former Durham Coalfields Communities.

It was also proposed that in the light of local government review, consultation takes place with the Department for Communities and Local Government, Durham County Council in its role as transitional authority and such other persons as the Council may be directed to consult.

RESOLVED :   1.   That the principle and concept for the establishment of a Sedgefield Regeneration Trust be approved as being consistent with all previous commitments to support those areas of the Borough in need of immediate regeneration.

                        2.   That the need for further consultation with the Department for Communities and Local Government, Durham County Council in its role as transitional authority and such other persons as the Council may be directed to consult be noted.  All appropriate approvals to be sought in order to take the initiative to implementation stage.

                        3.   That the Chief Executive be directed to take all necessary actions in order obtain the required consents and to submit further reports to Cabinet regarding:

Ø  Membership selection and governance for the Trust

Ø  The creation of a Housing Regeneration Development Company for the coalfield communities in Easington, Sedgefield and Wear Valley.