(a)

setting out the emerging private sector Business Improvement District (BID) proposal for Plymouth’s waterfront, currently being developed by the Plymouth Waterfront Partnership with the support of the City Council;   

(b)

detailing the Council’s financial support for the BID and  commitment to establish baseline agreements for the City Council’s existing services within the BID area;     

(c)

indicating that any business contributions through the BID would be effectively additional investment over and above the support made by the City Council;    

(d)

stating that the Board of the Plymouth Waterfront Partnership had recently taken the decision to proceed to a BID ballot following extensive consultation with businesses and independent market research;

(e)

advising that the Plymouth Waterfront Partnership would provide leadership and management and be directly accountable to waterfront businesses for the delivery of the BID business plan, working in partnership with the City Council, Destination Plymouth, the Police Authority, Plymouth University and other public agencies to benefit businesses located within the waterfront area;

(f)

indicating that the Plymouth Waterfront Partnership had yet to decide on the precise BID boundary area.

(g)

the City Council would commit match funding of £3m comprising £2m of existing services and £1m of income;

(h)

the BID was not a bid made by the Council;  

(i)

following a press report relating to the public relations’ value of the America’s cup to the city, the Assistant Director for Economic Development would report the final figure to Cabinet prior to Christmas.

(1)

that the principles and overall approach of the draft Waterfront BID Business Plan 2012-2017 are endorsed;

(2)

the City Council’s existing and new financial, match and in kind contributions (totalling £3,157,000) and continued commitment to support the waterfront BID at existing levels through the proposed BID contract for the provision of services within the Waterfront BID area;

(3)

that the Chief Executive is authorised to instruct a Ballot Holder to undertake a ballot of appropriate businesses with the Waterfront BID area;

(4)

that authority is delegated to the Chief Executive to vote on behalf of the City Council in the Waterfront BID ballot;

(5)

that authority is delegated to the Chief Executive to approve the Waterfront BID contract provided that it accords with the general principles set out in the  report submitted;

(6)

that Plymouth Waterfront Partnership will be made responsible for managing street trading activity within the Waterfront Business Improvement District area, with any surpluses generated from street trading, café licenses, events, fairs, festivals being transferred from Plymouth City Council to the Plymouth Waterfront Partnership following the end of each financial year;

(7)

that the City Council may assist the Plymouth Waterfront Partnership with cash flow over the initial six months of its new BID;

(8)

that the Overview and Scrutiny Management Board is requested to insert into their scrutiny work programme, a review of the BID proposals with a view to making a recommendation to the City Council regarding exercising its power of veto.