7 Penge Business Improvement District (BID) Renewal 2023-2028 PDF 486 KB
The report sought Portfolio Holder authority for a renewal ballot of the existing Penge SE20 Business Improvement District for a term of five years, commencing 1st April 2023 and expiring 31st March 2028.
The Penge SE20 Business Improvement District (BID) was launched in 2018 for a term of 5 years to expire in 2023. During its successful first term, a number of successful initiatives had been introduced, including the Street Rangers patrol and business grant programmes. In preparing for the end of the existing BID term, the Penge SE20 BID Board and Management Team had undertaken initial feasibility work which confirmed the local business community’s support for a renewal of the BID mandate to for a second five-year term. The BID Board subsequently voted to support a ballot for a second term of five years from April 2023 to March 2028 and it was planned to present the final Penge SE20 BID Proposal 2023 to the Council on or by 31 August 2022.
RESOLVED: That the Portfolio Holder be recommended to:
· Delegate authority to the Director of Housing, Planning and Regeneration that:
· Upon being notified that the BID proposer wishes to put proposals for a Renewal BID to a ballot, to review the final version of the BID Renewal Proposal which is expected to be delivered to the Authority by 31 August 2022; and,
· Upon being satisfied that the BID Renewal Proposal has been submitted in accordance with Business Improvement Districts (England) Regulations 2004 (Regulations) and does not conflict with any of the Council’s priorities and plans, and that its geographic scope is within the boundaries of the London Boroughs scope and is within the boundaries of the London Borough of Bromley, to instruct the Ballot Holder to hold the BID ballot on 13 October 2022, in accordance with the regulations.