Issue - meetings

(Cabinet Member with Special Responsibility Councillor Barry)

Report of Chief Officer (Environment)

(Cabinet Member with Special Responsibility Councillor Barry)

Cabinet received a report from the Chief Officer (Environment) to provide and update on recent activity in the Festival Market and to seek Cabinet’s view on options for future development.  It was noted that the options had been discussed by the Overview and Scrutiny Committee meeting on 2 December 2013 although the Committee had not made any recommendations to Cabinet.

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

Option 1- If the Council takes the view that the current issues facing the market are symptomatic of wider issues facing Morecambe and the economy generally then the regeneration led approach that the Council is leading through the Morecambe Area Action Plan, combined with ongoing management of the market within existing budgets, provides the best way forward. However from a trader perspective in the short term it will not address the concerns that traders raise and furthermore a regeneration led approach provides no certainty for the medium to long term future of the market, as it may reveal other better options for the Market. It is an approach though that is consistent with the Morecambe Area Action Plan and supporting policies, and based on the context described above is a very reasonable one.

Option 2- If the Council takes the view that the Festival Market is absolutely essential to Morecambe and pivotal in terms of economic wellbeing and the visitor attraction then it is clear that in order to remain viable major investment in the market is required, along with a fundamental overhaul of how it operates and trades. The market faces stiff competition from supermarkets, nearby shops selling similar products, nearby private indoor and outdoor markets and internet based retailers. Clearly users of the Festival Market value what it offers and the service it provides, but to be sustainable in the long term more shoppers and traders are needed. To attract new shoppers and traders will require major investment in the market in terms of appearance, layout, types of stall, heating, lighting etc. Additional investment will require significant increase in the charges currently made to traders which in turn will change the dynamic of the market, and significantly increase both  the financial input and ongoing risk to the Council. In terms of the Morecambe Area Action Plan the area occupied by the market could well be crucial in the medium to long term for the regeneration of the area. Were a decision taken at this stage to effectively protect the market it would reduce the regeneration opportunities available for the site and Morecambe as a whole.

Option 3- In between the approaches described above there is also a view which recognises that until the regeneration led approach bears fruit there is a need to maintain the market as a going concern, so long as it continues to provide a contribution to the General Fund. This approach would require more  ...  view the full minutes text for item 65