Appendix 1 – Joint Venture Objectives

Original Objectives	Revised Objectives
to form a long-term partnership to fund, enable and, where appropriate, develop a programme of key sites and for the Council to have an equal decision-making authority within the partnership	to form a long-term partnership to fund, enable and, where appropriate, develop a programme of key sites and for the partners to have an equal decision-making authority within the partnership
to deliver high quality new housing and regeneration in line with local needs now and in the future, with the overarching aim of delivering significant levels of affordable housing in excess of local planning policy requirements	to deliver high quality new housing and regeneration in line with local needs now and in the future, with the overarching aim of delivering significant levels of affordable housing in excess of local planning policy requirements
to undertake activities to increase environmental sustainability and carbon reduction in the short, medium and long term	To deliver high-quality sustainable housing and community living that contributes to meeting climate change aspirations and protecting and enhancing the County’s environment.
to drive the agenda of having a good mix of homes, a mix of types and tenures including homes that meet the needs of all ages and those with disabilities	To address housing needs across the County, with a mix of homes, types and tenures that meet the needs of all ages and specific groups.
to maximise social value contribution from the activities of the JV	to maximise social value contribution from the activities of the JV
to drive the pace of development	to drive the pace of development
to acquire (from any source) and/or sell land for the purpose of achieving the Objectives, in particular delivering significant levels of affordable housing	to acquire (from any source) and/or sell land for the purpose of achieving the Objectives, in particular delivering significant levels of affordable housing
to maximise grant funding into the JV	to maximise grant funding into the JV
the Council to invest its land to receive meaningful returns and it also has some appetite for risk, subject to investments being balanced by commensurate reward	the Council to invest its land to receive meaningful returns and it also has some appetite for risk, subject to investments being balanced by commensurate reward
to enable the Council to reinvest its returns to increase the level of affordable housing, deliver social value outcomes or improve the quality of development.	to enable the Council to reinvest its returns to increase the level of affordable housing, deliver social value outcomes or improve the quality of development.