Cabinet:

1. Reviewed and approved the Romford Town Management Limited  BID Proposal to go to ballot in June 2018;

2. Agreed to support the formation of a BID in Romford Town Centre, subject to a successful ballot taking place in accordance with the Business Improvement Districts (England) Regulations, 2004;

3. Noted that the Council will be subject to payment of the levy on its properties within the BID area; and,

4. Agreed that the Head of Property Services (one Source) be authorised to cast the Council’s  vote to support the establishment of the BID in relation to all the council properties within in the BID area; and,

5. Delegated authority to the S151 Officer in consultation with the Director of Neighbourhoods to negotiate and settle agreements in relation to any advance funding for the BID of no more than £230,000, subject to a successful ballot, the creation of the BID and the production of a costed workplan and cashflow acceptable to the S151 officer detailing  the funding requirements.

The Romford District Improvement District (BID) Proposal report was presented to Cabinet by Councillor Osman Dervish, Cabinet Lead Member for Environment and Community Safety.

The report details the proposed BID submitted by Romford Town Management Limited (RTMP) in accordance with the Business Improvement District regulations, for a ballot within Romford Town Centre to establish a BID.

Councillor Dervish detailed the history of the matter and explained that a BID is a defined area in which a levy is charged on all business rate payers in addition to the business rates bill.  This levy then can be used to develop projects to the mutual benefit of businesses in the area.  Businesses subject to the levy will vote in a ballot to determine whether the scheme will go ahead.  Once the BID is in operation the levy will be charged on all of the businesses within the defined area irrespective of how they voted in the ballot.

RMTP were established in 2016 with the purpose of improving the town centre.  The company has been working with the wider business community on the Town centre to identify priorities and develop a draft business plan which details a number of pledges.

The BID area is defined and shown in Appendix A of the report. The area includes ten Council owned properties and therefore the Council will be entitled to vote on the proposal for each of those properties.  Under the BID regulations the Council is obliged to support the establishment of a BID and also has a key role as regulator, service provider and as custodian of the public realm.

The RMTP will not be able to commence activity until the levy payments start to be made and therefore on that basis they have made a request to the Council to make an advance payment in order to fund the set up costs.  There is not sufficient information at this stage to establish how much will be required and so the recommendation is defined as up to a maximum of £230,000.

There followed a period of discussion.The reasons for the decision and alternative options available were considered.

Cabinet:

1. Reviewed and approved the Romford Town Management Limited  BID Proposal to go to ballot in June 2018;

2. Agreed to support the formation of a BID in Romford Town Centre, subject to a successful ballot taking place in accordance with the Business Improvement Districts (England) Regulations, 2004;

3. Noted that the Council will be subject to payment of the levy on its properties within the BID area; and,

4. Agreed that the Head of Property Services (one Source) be authorised to cast the Council’s  vote to support the establishment of the BID in relation to all the council properties within in the BID area; and,

5. Delegated authority to the S151 Officer in consultation with the Director of Neighbourhoods to negotiate and settle agreements in relation to any advance funding for the BID of no more than £230,000, subject to a successful ballot, the creation of the BID and the production of a costed work plan and cash flow acceptable to the S151 officer detailing the funding requirements.