Issue - meetings

Funding for Business Improvement District for Horsham Town Centre

Meeting: 24/01/2019 - Cabinet (Item 48)

48 Funding for Business Improvement District for Horsham Town Centre pdf icon PDF 403 KB

To receive the report of the Cabinet Member for Local Economy

Decision:

            RESOLVED

 

            That the £70,500 funding required to progress the Business Improvement District to the ballot stage be agreed, to be included as a revenue growth bid in the current budget process.

 

            REASON

 

            To ensure that resources are put in place to progress a Business Improvement District for Horsham Town Centre.

Minutes:

The Cabinet Member for Local Economy reported that Business Improvement Districts (BID) were business-led partnerships, created through a ballot process to deliver additional services to local businesses.  All BIDs had a clear and focused role, contained within a business plan, the development of which was led by the business community and involved extensive consultation to ensure that it included priority improvement actions.

 

The past few years had seen a significant change in the retail sector, with retailers on UK High Streets hit by weak sales, online competition and rising costs.

 

With the need for town centres to adapt, the night time economy was becoming a central part of the future of the UK high street.  It was essential that an attractive night time economy was established in Horsham Town Centre and was a strategy that could be effectively led by a BID organisation.  This partnership would bring together local businesses, community groups and the Council in developing night time economy strategies that could reduce costs, boost business rate income, improve community wellbeing and create jobs.  A BID would generate additional resources that could be targeted at developing the night time economy.

 

Dedicated resources would be required to take the next steps to determine the BID area, develop a business plan and campaign to champion the establishment of a BID.  The key cost would be the recruitment of a BID Project Manager, an independent role which would focus on consulting with town centre businesses on key issues and projects and promoting the benefits of a BID to secure a positive result in the ballot.  There would also be additional ancillary costs in the lead up to the ballot, details of which were reported.

 

Gill Buchanan, the Manager of Swan Walk and one of the current town centre stakeholders committed to forming the core BID Project Board, addressed the Cabinet in support of the proposal.

 

The Local Economy Policy Development Advisory Group supported the proposal.

 

            RESOLVED

 

            That the £70,500 funding required to progress the Business Improvement District to the ballot stage be agreed, to be included as a revenue growth bid in the current budget process.

 

            REASON

 

            To ensure that resources are put in place to progress a Business Improvement District for Horsham Town Centre.