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The Jersey Development Company (JDC) was established in June 2011, formally through a change of name and constitution of the Waterfront Enterprise Board (WEB).
However, the JDC is very different from the WEB. While it holds the same assets and liabilities it has a different structure and remit.
The Company has an independent board, appropriate for its role, rather than comprising political appointees. Its remit to develop the waterfront remains but it now also has a new role, to act as the developer, in conjunction with the private sector, of surplus public sector assets in designated Regeneration Zones.
P73/2010 the report and proposition agreed by the States sets out the detail of the new arrangements and can be found below.
The consultancy firm DTZ carried out a review of the WEB, the results of which heavily influenced the arrangements agreed by the States.
This report Review of Waterfront Enterprise Board is available on www.gov.je or follow the link.
The JDC therefore has no policy making functions, nor, unlike the WEB, does it have any role in developing masterplans. Rather, its task is to deliver effectively and efficiently policies agreed by the States of Jersey.
The Company is accountable to its shareholder, the Minister for Treasury and Resources. The relationship between the Company and the Minister is set out in a Memorandum of Understanding.
