Issue - meetings

DRR19/015

The Director of Regeneration attended the meeting to answer any questions that may have arisen regarding the report on BIDS for 2019-2020. The intention of the report was to outline the feasibility of   extending the BID approach to West Wickham and Chislehurst town centres.

The Committee was briefed concerning the recommendation of the consultants (Central Management Solutions) that had conducted the financial analysis, research and consultation into the feasibility of establishing bids in West Wickham and Chislehurst. Central Management Solutions had recommended that the BID process should not be progressed for Chislehurst. It was recommended that the BID process progress for West Wickham, with a BID levy of between 1.5% and 2%. For simplicity of financial modelling a 2% BID levy was used in the report.

The Director outlined the ballot process that would need to take place before the BID could be established and become a legally binding entity. Members noted that the draft budget for establishing the West Wickham BID was set at £75k. The Director was confident that West Wickham could sustain a BID. The Chairman remarked that £75k seemed rather high and asked why this was the case. The Director explained that one of the reasons for this was because as LBB did not possess the required resource, external consultants had to be used.

RESOLVED that

1) The outcome of the initial feasibility study on the potential for a BID in West Wickham town centre and Chislehurst town centres is noted.

2) The Committee supports in principal the formation of a BID in West Wickham at the earliest opportunity, bearing in mind the constraints and risks outlined in the report.

3) The Committee recommend that the Executive approves the allocation of up to £75k from the Growth Fund to cover the costs of the proposed West Wickham BID project. 

4) The Committee notes the projected timescales for the establishment of a BID in West Wickham Town Centre as outlined in paragraph 3.14, and the potential financial implications of establishing a BID in this town.