Agenda item

The Cabinet Member for Major Development and Housing Delivery introduced his report, reminding Members that the social value strategy first appeared when the Golden Valley development funding agreement was signed in 2022.  He said that work has been ongoing in the Golden Valley team since then to get it moving, and to drive the maximum social value for residents and communities across Cheltenham out of the development.  Five key principles run throughout the whole strategy to maximise the social value, and he highlighted the Social Value Charter which sets out to businesses and tenants what is expected of them.  The report includes some of the activities already under way, and what is planned for the future, demonstrating the shape and change of what we can expect from the Golden Valley investment. 

He invited Members to endorse the report and strategy, which will be agreed with our development partners. 

Members thanked the Cabinet Member for Major Development and Housing Delivery for his report, and made the following comments:

-       when the council first signed the development agreement, there was concern about how it could commit to spending such a huge amount of money without considering the social value for Cheltenham.  Engagement sessions subsequently took place throughout the town and the first draft of the social value strategy was formulated.  We only have one chance to get this right; hopefully all will go to plan;

-       one of the strongest economic driving forces of the council is that every penny it spends is doing the most it can for the people of Cheltenham.  This new version of the social value strategy is a testament to the principles of the Cabinet Member for Major Development and Housing Delivery, which will be carried forward regardless of what happens with devolution;

-       a huge amount of inspiring work has gone into this strategy, with the Golden Valley team engaging with communities and meeting with various partners to better understand how it can deliver on behalf of Cheltenham residents.  Activities and social value are monitored in the social profit calculator, which shows this is starting from a solid foundation.  This is really great work and a pleasing document;

-       protection and enhancement of the natural environment and biodiversity is welcomed, and will have positive benefits for nature and for residents;

-       the statement of development commitment to environmental sustainability and biodiversity, eco-friendly design, carbon footprint reduction, commitment to sustainable transport are all welcome  The Social Value Charter should be available for all partners to sign – they will be proud to do so;

-       this is another example of the council choosing to establish a positive investment strategy for Cheltenham, linked to local value, skills, training, procurement, health and wellbeing, engagement with residents, the local environment and more.  It aligns with Liberal Democrat principles, and is to be commended;

-       in five years’ time, the council will look back with pride at doing something so positive for its residents, in particular the potential employment for young people who want to build a future in Cheltenham.

The Cabinet Member for Major Development and Housing Delivery thanked Members for their kind words, and gave credit to the team behind it, led by Amy Keates.  He said it is unusual to be talking about something on paper and calculating the impact it will have on lives in 20 years’ time, but said the critical thing is the clear principles set out in the Charter. He wishes everyone involved could be forced to sign it to prove their clear commitment, but with all tenants on board he was confident that we can make it work.

RESOLVED THAT:

-       the amendment of the current Development Agreement (DA) to incorporate the revised Social Value Strategy version 2 is endorsed.