Bexley Council Reviews Asset Utilisation for Regeneration Amidst Economic Uncertainty
Bexley Council is undertaking a comprehensive review of its assets to drive regeneration efforts across the borough, a move influenced by significant national economic uncertainties. The Finance and Corporate Services Overview and Scrutiny Committee received an update on the council's strategic direction, which included a mention of a wider review of asset utilisation for regeneration purposes. This review is part of the council's ongoing efforts to ensure financial resilience.
Councillor David Leaf, Leader and Cabinet Member for Resources and Transformation, highlighted the ongoing discussions and planning surrounding the council's budget and corporate plan refresh. Amidst national economic uncertainty, he indicated that a broader review of how the council's assets can be best used for regeneration is underway. Councillor Leaf pointed to ongoing uncertainty nationally at the moment the current economic climate interest rates are going up and obviously we've got the uncertainty with the national budget from the new Chancellor of the Exchequer in about two weeks time.
He also noted a lot of uncertainty uncertainty uncertainty and more uncertainty
regarding devolution and the rewiring of the state.
This asset utilisation review is being conducted in a challenging economic climate, with a particular focus on how to best leverage existing resources for regeneration projects. The council is doing more than just the usual business plan update. We're having a more wider look around how we can utilise our assets and estates for regeneration purposes in a what is a very challenging and difficult economic climate,
Councillor Leaf stated. He added that there is a lot of appetite for investors to invest in good propositions
and that the council always taken a very pragmatic approach
to asset utilization. The meeting also notes that where we've got assets which we can work on for regeneration purposes we are looking to do that.
The council is also looking at the business plan update for BexleyCo, which is scheduled for November, and this will likely incorporate findings from the asset review. This comes amidst a debate about past asset utilisation, with Councillor Borella raising concerns about BexleyCo, stating I think the whole Bixley business co is not working over all and it is a disaster because we sold off at open space many years ago.
Councillor Leaf defended BexleyCo, responding it's a shame that Councillor Brella has talked down what is an opportunity which has delivered homes in our borough already it has delivered some affordable homes not as much as perhaps we would all want but it has delivered some homes in our borough and it has delivered returns to the council as well to support our financial position.
This exchange suggests a perspective on learning and improvement regarding asset utilisation, particularly concerning BexleyCo's past performance.
Further details on the council's strategic direction can be found in the Public reports pack for the Finance and Corporate Services Overview and Scrutiny Committee meeting.