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.
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