CBR Partnership | About CBR
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About CBR

CRAVEN BARNFIELD REGENERATION LTD.

Our aims and objectives

The Craven Barnfield Regeneration Limited Joint Venture has been created in order to improve the economic, social and environmental well-being of Craven. The Joint Venture will aim to enable the development of new employment and housing land, increase investment for development, maximise returns and create a revolving fund for future schemes, and increase the speed of project development and delivery.

The company is 30% owned by Craven District Council and 70% by Barnfield Investment Properties Limited and voting rights will be split 50/50.

It will be managed by six directors who will form the Strategic Partnership Board, three directors from Craven District Council and three from Barnfield Investment Properties Limited. A rotating chairman will be nominated on an annual basis. The board will be supported by a Company Secretary, a finance officer from Craven District Council. Craven District Council and Barnfield will have equal voting rights.

WHY IS THE COUNCIL DOING THIS?

The aim of the Joint Venture is to improve the economic, social and environmental well-being of Craven. The Joint Venture will aim to enable the development of new employment and housing land, increase investment for development, maximise returns and create a revolving fund for future schemes, and increase the speed of project development and delivery.

WHAT IS A JOINT VENTURE?

A Joint Venture (JV) is a business agreement in which the parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets. It is now common practice for councils to form joint venture organisations, to help them to access skills that they may not have in house.

WHAT IS THE DECISION MAKING PROCESS?

Any decisions taken by the Joint Venture Strategic Partnership Board relating to council or third party assets will go before the Council’s Policy Committee for approval. Any planning decisions will also go through the normal planning procedures.

WHAT IS THE STRUCTURE OF THIS JOINT PARTNERSHIP?

The company is 30% owned by Craven District Council and 70% by Barnfield Investment Properties Limited and voting rights will be split 50/50.

It will be managed by six directors who will form the Strategic Partnership Board, three directors from Craven District Council and three from Barnfield Investment Properties Limited. A rotating chairman will be nominated on an annual basis. The board will be supported by a Company Secretary, a finance officer from Craven District Council. Craven District Council and Barnfield will have equal voting rights.

HOW DID THE COUNCIL CHOOSE BARNFIELD CONSTRUCTION?

The partner for the joint venture was selected following a strict and lengthy Official Journal of the European Union (OJEU) compliant Competitive Dialogue procurement process.

Barnfield has the ability to deliver major regeneration projects that will make the difference to Craven’s economy. They have an excellent track record of partnership with other public sector joint ventures, such as in Hyndburn, Pendle, Burnley and Rossendale.

They also have considerable experience of working with third party funding organisations such as Local Enterprise Partnerships, the Heritage Lottery Fund, and the Homes & Communities Agency. This added to a greater access to external financial investment could bring the required funding to regenerate marginal or non-viable schemes.

WHAT PROJECTS ARE THE CBR PARTNERSHIP CURRENTLY WORKING ON?

There are a number of projects that form a high level pipeline only at this moment in time. The next step is to develop a detailed project plan for each individually. A desire of the Joint Venture is to deliver a “quick win” within the first year of operation.

One initial project we are developing is in Back Gate in Ingleton, an under used lorry park that will be redeveloped into six homes for sale on the open market. Another is Low Demesne, in Ingleton, which is allocated in the Local Plan and will create 22 new homes, 15 for sale on the open market and seven affordable homes.