Lichfield city centre masterplan – delivery plan 2021-2026
Delivery routes, funding and investment
For each proposed development project or other workstream there will be a full assessment and detailed viability appraisal to ensure that plans and proposals can be delivered prior to the issuing of a development or project brief. Potential sources of funding will differ from project to project and include capital or revenue funding or in some cases both.
Potential sources of finance and investment include:
- Private investment
- Section 106/CIL funding
- Lichfield District Council funding
- External funding (such as LEP funding, Staffordshire County Council, Lichfield City Council etc.)
- External funding (for example secured from central government or via Public Loans Board or via a 3rd party such as rail or bus operating companies)
- Lichfield Housing Ltd
We will use its statutory powers where necessary to ensure that projects are brought forward in accordance with the timescales set out. This will include working with landowners and other partners to bring forward sites and opportunities for development.
The development site projects will very likely be undertaken in partnership with other organisations. Decisions on the actual partners involved and the arrangements agreed to bring forward development itself will be determined in due course and following detailed assessment of the delivery options available to us set against our own objectives:
Potentially, there are several routes we may want to consider. In outline these are:
- Joint venture partnership between us (or associated company), other landowners and one or more development partners either through a contractual partnership (i.e. a development agreement), the formation of a limited company formed by share issue or a company limited by guarantee.
- A development manager approach whereby the partner does not provide finance to the project but brings experience in delivery and marketing of a scheme for a fee.
- Sale of the land to a separate party subject to conditions as regards delivery
Alternatively we could choose to sell a/the development site(s) (or part of) outright to a developer and only have statutory involvement in the development of the site. A capital receipt could be achieved to then invest in other development opportunities.