Agenda item

(Mark John Boleat)

8 May 2014

Cheapside Business Improvement District

The Cheapside Initiative (CI) has requested the City Corporation to promote the balloting of proposals for a Business Improvement District (BID) to be established along the length of Cheapside. We have considered this request and support the promotion of the ballot for the BID, with the CI acting as the delivery agents. Whilst the vast majority of the funding for the promotion of the BID has already been secured, we also believe the City Corporation should part fund the cost of promoting the BID and the cost of holding the ballot (estimated at £2,200).

The BID would allow CI to develop activities focusing upon the development and marketing of Cheapside as a retail and office destination and working with businesses to support corporate social responsibility. It is not intended that it should focus on the delivery of improved services such as policing or maintaining the environment and, as a consequence, it will not intrude on the work of the City Corporation.

A printed and circulated report has therefore been submitted for your consideration and we commend its recommendation for the City Corporation to promote the development of a BID for the Cheapside area including the costs associated with it and also the CI acting as the delivery agents for the initiative.

POLICY AND RESOURCES COMMITTEE

(Mark John Boleat)

8 May 2014

Cheapside Business Improvement District

The Cheapside Initiative (CI) has requested the City Corporation to promote the balloting of proposals for a Business Improvement District (BID) to be established along the length of Cheapside. We have considered this request and support the promotion of the ballot for the BID, with the CI acting as the delivery agents. Whilst the vast majority of the funding for the promotion of the BID has already been secured, we also believe the City Corporation should part fund the cost of promoting the BID and the cost of holding the ballot (estimated at £2,200).

The BID would allow the Cheapside Initiative to develop activities focusing upon the development and marketing of Cheapside as a retail and office destination and working with businesses to support corporate social responsibility. It is not intended that it should focus on the delivery of improved services such as policing or maintaining the environment and, as a consequence, it will not intrude on the work of the City Corporation.

A printed and circulated report has therefore been submitted for your consideration and we commend its recommendation for the City Corporation to promote the development of a Cheapside Imitative BID for the Cheapside area including the costs associated with it and also the Cheapside Iinitaitive acting as the delivery agents for the initiative.

Read and agreed to.