(a)

a Business Improvement District (BID) was a private sector led management organisation for a precisely defined geographical area, where business rate payers had identified projects and services that would have a positive impact on their trading environment;

businesses located within the area voted to invest collectively in delivering these improvements which were wholly additional to those already delivered by local, statutory bodies;  once a BID had been established, all businesses contributed a BID levy based on the rateable value of their premises to ensure fairness and equity; the BID duration was five years;

(b)

the Plymouth City Centre Company Ltd (PCCC) would be responsible for delivering the new City Centre BID; PCCC was an independent, not for profit company limited by guarantee which currently operated as a voluntary membership partnership with a Board of Directors which represented all the key business sectors in the BID area;

(c)

the City Centre BID would help the City to achieve its Visitor Plan targets which included -

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growing visitor spend by 30% from £347m to £450 in 10 years;

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increasing the total  visitor numbers by 15% from 5.1m to 6m by 2030;

(d)

in February 2020, the businesses would have to decide whether to vote yes or no to fund the delivery of the final City Centre BID business plan; if the majority of businesses voted yes, then all business in the BID area would be required to contribute an annual BID levy payment;

(e)

based on rateable value, the average city centre business would pay an annual levy of £765 which equated to £14.70 per week; it was proposed that a minimum rateable value threshold of £4000 was set within the new BID term, below which no additional levy was made;

(f)

the total projected Plymouth City Council cash and in kind contribution would be £672,500;

(g)

the BID levy was match funded by Plymouth City Council and other partners to generate further funds from additional sources; the  City Centre BID aimed to lever £6 of additional match funding for every £1 of BID levy received from business, this would maximise the delivery of project and service improvements;

(h)

a postal ballot of business ratepayers within the City Centre BID area would take place between 28 January 2020 and 27 February 2020; the result of the ballot would be announced by 28 February 2020; the BID’s fourth term would commence on 1 April 2020.

(i)

electric charging points would be part of the BID’s infrastructure improvements;

(j)

consideration had been given to putting incentives in place to encourage home/small businesses to occupy the empty shops within the BID area.

(1)

endorse the principles and overall approach of the Plymouth  City Centre Company BID and its business plan for 2020 – 2025;

(2)

approve the City Council’s financial and in kind contributions (totalling £672,500) and to demonstrate its continued commitment to the City Centre Company BID at existing levels through the proposed BID concordat and contract for the provision of services within the Plymouth City Centre Business Improvement District area;

(3)

authorise the City Council’s Chief Executive as returning officer to instruct a ballot holder to undertake a ballot of appropriate businesses within the City Centre Company Business Improvement District area;

(4)

delegate to the Strategic Director for Place authority to vote on behalf of the City Council in the Plymouth City Centre Company  Business Improvement District ballot;

(5)

delegate to the Strategic Director for Place authority to approve the Plymouth City Centre Company Business  Improvement District contract provided that it accords with the general principles set out in this report.;

(6)

Plymouth City Council is already committed to funding the City Centre Company, through its Medium Term Financial Strategy, so no new funding commitments are requested.