HBC-Local Authority Controlled Development Company - Legal and Financial Advice

The withdrawal of central government grant from local authorities by the end of this parliament means that Hertsmere Borough Council , as other Local Authorities in Hertfordshire, must develop replacement revenue streams and become self-financing by 2020 if it is to maintain service provision at current levels. The Council currently derives significant General Fund revenue income from its ownership of Elstree Film and Television Studios - managed on its behalf by a wholly owned limited company - and is in the process of developing further production facilities to the rear of the site to generate additional revenue income. The Council has also has established a Property Development Compan…

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