Issue - meetings

The purpose of this report is to provide background to the development of BIDs in the borough; to explain the implications and responsibilities of the Council and provide the information for the Executive in order for them to recommend that the Council vote in favour of the Cranleigh BID.

Recommendation

The Executive is recommended:

1.         To vote in support of the Cranleigh BID with the Council’s two votes as a levy payer.

2.         To delegate responsibility to cast the vote in the ballot for the Cranleigh BID to the Leader of the Council.

3.         To note the annual cost to the Council of its levy contributions set out at 10.1, the cost of which have been included in the Medium Term Financial Plan (MTFP).

4.         To agree to absorb the cost of the up-front capital cost of the BID levy collection software up to £43,000. This cost will be met by earmarked reserves and useable capital receipts.

The Executive RESOLVED to:

1.         vote in support of the Cranleigh BID with the Council’s two votes as a levy payer.

2.         delegate responsibility to cast the vote in the ballot for the Cranleigh BID to the Leader of the Council.

3.         note the annual cost to the Council of its levy contributions set out at 10.1, the cost of which have been included in the Medium Term Financial Plan (MTFP).

4.         agree to absorb the cost of the up-front capital cost of the BID levy collection software up to £43,000. This cost will be met by earmarked reserves and useable capital receipts.

Reasons for the decision:

1.        Supporting BIDs forms part of the Council’s existing and emerging Economic Development Strategy to support the high streets and a vibrant business economy in the borough.

2.        The Council has invested in the BID development process since 2018, having commissioned a feasibility study and provided grant funding to each BID area.

3.        The Council has a statutory responsibility to work with the BIDs and an opportunity to build a partnership with these stakeholders.

[Overview & Scrutiny – Services]

The Leader introduced the report that set out the background to Business Improvement Districts (BIDs) and the council’s work in supporting the development of BIDs in Cranleigh, Farnham and Godalming. Local councillors had been exploring ways to enable more investment in high streets and town centres, especially as the council retained such a very small proportion of the business rates collected to do this directly, and BIDs provided a great opportunity for local business communities to come together and generate additional investment for activities to support retail and other high street businesses. The Cranleigh BID was the first to reach the ballot stage and the Leader thanked Cranleigh businesses and Waverley officers for their work to reach this milestone.

The Leader encouraged businesses in Farnham and Godalming to engage with the local BID projects and to take the opportunity to shape plans for town centre investment.

The Leader noted that in addition to the recommendation to cast Waverley’s ballot in support of the Cranleigh BID, there was also a recommendation that the council absorb the cost of the levy collection software.

There were no other speakers and the Executive RESOLVED to:

1.         vote in support of the Cranleigh BID with the Council’s two votes as a levy payer.

2.         delegate responsibility to cast the vote in the ballot for the Cranleigh BID to the Leader of the Council.

3.         note the annual cost to the Council of its levy contributions set out at 10.1, the cost of which have been included in the Medium Term Financial Plan (MTFP).

4.         agree to absorb the cost of the up-front capital cost of the BID levy collection software up to £43,000. This cost will be met by earmarked reserves and useable capital receipts.

Reasons for the decision:

1.        Supporting BIDs forms part of the Council’s existing and emerging Economic Development Strategy to support the high streets and a vibrant business economy in the borough.

2.        The Council has invested in the BID development process since 2018, having commissioned a feasibility study and provided grant funding to each BID area.

3.        The Council has a statutory responsibility to work with the BIDs and an opportunity to build a partnership with these stakeholders.