The Group Manager - Strategic Regeneration presented a report which sought cabinet approval to;

1)    Note the contents of the report and approve the financial arrangements as detailed within it.

2)    Delegate authority to the leader of the council to cast the Council’s votes in the BID Ballot. The report recommended that the authority agreed to vote yes in favour if the alteration ballot.

3)    Delegate authority to the relevant chief officers in the event of a successful BID alteration to the ballot to approve, finalise and execute the terms of the deed of variation to the baseline services agreement and the operating agreement with the BID Company.

The Group Manager - Strategic Regeneration reported that reports were presented to Cabinet in May and June 2016 which detailed the process of establishing the Bridgend Business Improvement District (BID) for the CF31 area. Following a ‘Yes’ vote, the BID and the CF31 Business Improvement District Company Ltd (“The BID Company”) which  manages the BID was established and has been operational since 1^st October 2016. 

The Group Manager - Strategic Regeneration explained that the Bid Renewal document within the report was sent to the owners of the hereditaments which detailed the proposed changes to the BID. The  proposed alterations were as follows;

• Boundary - the BID Boundary be redrawn and a map of the boundary under the alteration proposals is attached at Appendix 1 to this Report. This adds another 12 hereditaments to the boundary area.

• Rateable value – the rateable value of hereditaments within the boundary is changed from £6,000 to £5,000.

• The Levy payment is increased from 1.25% to 1.5%.

• The proposed BID term will be five years in duration from 1st October 2019 to 30th September 2024.

The Group Manager - Strategic Regeneration explained the Ballot timetable which outlined the Action, Regulation Requirements and the Alteration Ballot.    The Group Manager – Strategic Regeneration explained the financial implications to the Council over a 5 year period as a business rate payer in that the Council has six properties in its ownership within the proposed BID area in the event of a Yes vote.  

The Cabinet Member for Education and Regeneration expressed his support for the BID alteration proposals and thanked the Group Manager – Strategic Regeneration for presenting the comprehensive report. He clarified that the BID was not a Council project but rather a town trader’s initiative. He also stated that he was happy that the proposed term would be 5 years, as opposed to the current term which was 3 years, as 5 years was a standard term for a BID.

The Group Manager - Strategic Regeneration explained that the BID helped to provide non statutory services, which have not been able to be provided for many years in the town centre and added that  businesses who were not part of the BID would  likely benefit from it.

The Cabinet Member for Education and Regeneration was pleased with the positive engagement from businesses which showed their commitment to improving the town centre and proposed that Cabinet accept the report and endorse the recommendations.

The Cabinet Member Communities supported these comments and expressed his support for the report and commented that the 5 year proposal would allow for more time to make a larger impact.

The Cabinet Member Communities was surprised that Asda did not show any engagement or support but believed this to be a national decision as opposed to a local store decision.

The Leader expressed his pleasure that a wide variety of businesses including larger retailers such as Peacocks and Home Bargains as well as a number of local independent retailers such as Beth Daniel, Watkins Menswear and Felicity Jewellers had engaged in the process and supported the BID. He thanked business people who volunteered to sit on the Board for their leadership particularly Beth Daniel who was chair of the BID.

He explained that a ‘no’ vote would have a negative impact on the funding agencies that BCBC depend on for regeneration projects in the town centre.

The Cabinet Member for Wellbeing and Future Generations expressed her support for the proposals and questioned the reason for businesses in the southern part of the town not being included on the map.

The Group Manager - Strategic Regeneration explained that the map was drawn based on the initial engagement and it was observed that the businesses in excluded area were not making use of the services or be involved in any way whether they paid a levy or not. Therefore it was determined for these reasons to make the boundaries smaller.

The Deputy Leader expressed his support for the proposed BID and supported the recommendations. He noted that there was cost of £23,000 £23,000 but believed that this was a positive investment.

The Group Manager - Strategic Regeneration explained that it had been funded and would continue to be funded from existing Strategic Regeneration Budgets.

RESOLVED:

That Cabinet:

(i)          Noted that the BID alteration proposals and supplementary documentation have been submitted to and approved on behalf of the Council, as complying with the requirements of the Regulations.

(ii)         Noted that following receipt of a notice from the BID Company that the Council should instruct the Returning Officer to hold a BID alteration ballot, the Council instructed the Returning Officer to hold a BID alteration ballot by way of delegated power.

(iii)        Approved the financial arrangements detailed in paragraphs 8.2 and 8.4 of the report.

(iv)        Agreed to vote in favour of the Bridgend Business Improvement District alteration proposals in the BID alteration ballot.

(v)         Delegated authority to the Leader of the Council to cast the Council’s votes in the BID alteration ballot.

(vi)        Upon there being a successful BID alteration ballot (and the relevant certification and publication notice required by the Regulations having been undertaken), delegated authority to the Chief Executive Officer in consultation with the Head of Legal and Regulatory Services and the Section 151 Officer to approve and finalise the terms of the deed of variation to the Baseline Services Agreement with the BID Company and to arrange for the Head of Legal and Regulatory Services to execute the deed of variation to the Baseline Service Agreement.

(vii)       Upon there being a successful BID ballot (and the relevant certification and publication notice required by the Regulations having been undertaken), delegated authority to the Section 151 Officer in consultation with the Chief Executive Officer and the Head of Legal and Regulatory Services to approve and finalise the terms of the Operating Agreement with the BID Company and to arrange for the Head of Legal and Regulatory Services to execute the Operating Agreement.

Meeting finished at 10:05am