Post date: Sep 21, 2016 7:2:22 PM
At their June 2016 meeting the Council of Faiths had a presentation from Charles MacDonald, the Chief Executive of MKDP.
The role of MKDP is particularly of interest to the faith community, as they can potentially provide land for the development of faith community buildings.
MKDP was set up in January, 2013. It is wholly owned by MK Council.
In January 2013 it acquired HCA land and £32M of debt.
It has 70 development sites and some other sites, but focuses on the development sites. It owns 265 acres of land. The largest site is the MK Bowl at 70 acres.
It has several sites in CMK and owns the highway/parking land in CMK.
One of its aims is to deliver the Core Strategy.
It has a board of 9 members, 4 councillors (Council Leader plus one from each of the three main parties) and 5 independent members, one of whom (John Duggan) is the chair. The other 4 independent members are John Walker (ex-CNT), Bob Hill (ex-EP), Will Cousins (Chair of David Lock Associates) and Bob Green (an accountant).
MKDP’s brief is to have an entrepreneurial approach. It is obliged to pay off the £32M of debt. It has £0.5M per year to cover tariff risk.
It is not MKC’s property team, but does give strategic advice. It is currently advising the Council on the Western Expansion Area, Tickford Fields Farm (in Newport Pagnell) and the YMCA redevelopment.
There is currently an intense period of activity, but MKDP only has a staff of 5.5 people. It is looking to appoint 3 additional members of staff over the summer.
For larger sites it takes the development brief approach. It is trying to raise the bar on quality.
It has a good relationship with CMK Town Council and others.
Over the last three years it has made £0.5M, £3.5M and £6.0M profit respectively.
MKDP have completed on 8 sites and are building a pipeline of other schemes.
Charles answered a number of questions from members.