Decision details

The report of the Head of Economy and Tourism was submitted updating Members on progress towards establishing the proposed Business Improvement District (BID), and seeking Executive’s confirmation of a “yes” vote in the ballot to support the setting up of the BID.

Executive strongly supported the development of the BID for the City Centre and looked forward to the range of initiatives and improvements which the BID would deliver.  Members commented on the impressive promotion of the BID proposal and noted its aims, proposed activities and priorities within the first year.   

Executive resolved that:-

(1)        the proposed City Centre Business Improvement District and the priorities and projects as set out in the formal prospectus be supported;

(2)        the Portfolio Holder for Economy and Tourism be authorised to cast the City Council’s votes in favour of establishing the BID;

(3)        the continuation of the City Council’s contribution of £50,000 towards the costs of the City Centre Management function in collaboration with the BID Company, be confirmed in principle, subject to agreement on the final arrangements.

(4)        the Head of Treasury Services arrange for provision for funding the BID levies from existing budgets associated with each property liable for the levy.