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Our Social Value Commitments
Social value is defined as how services, activities and programmes contribute to meaningful and sustainable outcomes for individuals, generate opportunities for our residents and key stakeholders both on and off site, build the capacity of our communities, and create thriving, resilient and cohesive communities where people want to live.
The joint venture also committed to generating local economic impact and supporting local supply chains, and to improving the prosperity of residents and local communities. We deliver activities that generate social value ourselves, and in partnership with others.
The joint venture, Teviot Estate Developments, is committed to the wider benefits that the regeneration can bring to the community.
The outcome of the regeneration should not just be renewed buildings and public realm, it must also have a meaningful impact upon the community that can be measured. The joint venture is therefore committed to generating social value for the Teviot Estate and its residents and key stakeholders.
TED applies the HACT Wellbeing Valuation methodology and the UK Social Value Bank (developed by HACT and Simetrica-Jacobs) to measure the value of services, activities and programmes we deliver ourselves and in partnership through the life cycle of this programme to plan, monitor, review and evaluate social value generation.
This approach has been informed by people’s actual experiences and so the values are based on how people live their lives and judges the success of a project by how it affects people’s wellbeing.
Following extensive consultation with residents in Poplar Harca’s listening campaign, key themes emerged as priority areas for the Teviot Estate regeneration.
The themes have been mapped against 12 outcomes from the UK Social Value Bank which correlated best with the resident feedback and expectations and now form the basis of the social value delivery plan KPIs.
The 12 outcomes which the Social Value Delivery Plan focuses on are:
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6 Full-time Employment Apprenticeships General Training for Jobs Not Worried About Crime No Litter Problems Feel Belonging to Neighbourhood Able to Obtain Advice Locally Good Overall Health Access to Internet Afford to Keep House Well-Decorated Go to Youth Clubs Member of Social Group
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Social value output
Over the lifetime of the development, the social value commitment by Teviot Estate Developments LLP will deliver an output value equal or greater than £278,741,168.00.
This output value is set to be delivered in accordance with the social value delivery plan, which sets out the delivery proposals, associated timetable and details of how the input value will be attributed on a year on year basis.
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