Decision Details

Implemented

Felixstowe Business Improvement District

ES/0470

Yes

Committee

Cabinet

Tue 1 Sep 2020

Yes

Report of the Deputy Leader and Cabinet Member with responsibility for Economic Development

Cabinet to approve BID business plan and voting in favour of the BID

Economic Development & Regeneration

Not Applicable

Paul Wood

Equality Impact Assessment

No

1.   That the principles of the draft BID Business Plan be supported, and that delegated authority be given to the Strategic Director, acting in consultation with the Deputy Leader and Cabinet Member with responsibility for Economic Development, to agree the final version, once published;
2.    That the submitted BID proposals meet The Business Improvement Districts (England) Regulations 2004 (the Regulations);
3.   That the Returning Officer be instructed to hold a ballot, running from 13 October to 11 November 2020, subject to the final engagement with businesses in the BID area, indicating the likelihood of a strong vote in favour of the BID;
4.  That the Strategic Director be authorised to complete the Felixstowe BID ballot papers by voting in favour for the formation of a BID, using only one of the 11 votes issued to the Council so as not to be perceived as unduly impacting on the outcome of the ballot.

The Felixstowe BID is the result of positive, collaborative work over the past two years.  It has drawn together a wide range of businesses and public bodies to develop a business plan for the BID area. The business plan provides an  opportunity to address the current challenges, arising from the continuing decline in high streets, nationally, which has been exacerbated by the COVID 19 pandemic. The Felixstowe BID will provide businesses in the area with the ability to raise significant funds to invest in agreed, positive priorities which will boost trade in their area, and generate wider economic and social wellbeing.

Not progress with the BID ballot. This would mean that a loose partnership of businesses could still continue to collaborate in an ad-hoc manner to improve the local trading environment, however, it would also represent a missed opportunity. In addition to the funding generated through the levy payments, the Felixstowe BID has the potential to draw down significant external funding e.g. via the High Streets Taskforce, which provides additional investment in the high street and resort areas. Without a BID in place, this opportunity will be lost.

None

None